• Alcohol sales in Q1 slip 9.4% to INR512.4m (US$8.5m)
  • Profits in three months to end of June up 36% to INR82.3m
  • Group profits hit INR8.02bn 

United Breweries Holdings has reported a drop in first-quarter sales from its alcohol operations, but profits rose in the period.

The holding company of India's UB Group, which operates in beverage alcohol, aviation, fertilisers and engineering, saw sales from its beer, wine and spirits units in the three months to the end of June fall by 9.4% to INR512.4m (US$8.5m). Profits for the group's alcohol division, which includes United Breweries and United Spirits - were up by 36% in the period, to INR82.3m.

Meanwhile, the board of United Spirits, which is majority controlled by Diageo, has still to approve its full-year results. In June, United Spirits said it was delaying reporting the results due to problems with debtors and an outstanding loan.

The unit's first-quarter numbers are also yet to be approved, it was revealed in a separate filing to the Bombay Stock Exchange today

United Breweries Holdings' group profits more than doubled to INR8.02bn, helped by the sale of shares by lenders in the now defunct Kingfisher Airlines.