United Breweries profits leap in Q3

United Breweries profits leap in Q3

India's United Breweries has reported a 40% jump in net profits for its fiscal third quarter on the back of strong demand for its beers.

Net profits for three months to the end of December reached INR298.2m (US$6.55m), United Breweries said at the end of last week. Net sales increased by 38% on the same period of last year, to INR6.1bn, while operating profits before interest and exceptional items leapt by 71.5% to INR419m, said the Kingfisher lager brewer.

United Breweries has extended its lead over SABMiller in India's beer market in the last couple of years, a trend that bodes well for Heineken, which owns a 37.5% stake in United Breweries. The Heineken brand is set to launch in India within the next few months.

For the first nine months of United Breweries' fiscal year, net sales rose by 38% to INR19.4bn and net profits increased by 87% to INR1.28bn.

The group's strong figures echo those of sister company, United Spirits, which last week reported a 45% leap in third quarter sales.

For the full figures, click here.