INDIA: UB Group reports beer and spirits growth
India's UB Group has reported strong third-quarter results for its brewing and distilling operations.
United Breweries Limited, India's largest brewer, saw volumes rise 22% during the three months to 31 December, outperforming an Indian beer market growing 14%. UB saw net profit from its beer operations rise more than five-fold to INR92.4m (US$2.1m).
UB witnessed the strongest growth in India's strong beer segment with sales of Kingfisher Strong growing by 36%. The growth in total sales pushed UB's share of the Indian beer market to close to 50%.
UB's flagship distilling operations, McDowell & Co, saw third-quarter net profits more than double to INR 170.8m, on the back of net sales of INR4bn. McDowell & Co saw volume sales rise 4% to 19.5m cases.
Companies: United Breweries Limited
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