Beer maker United Breweries Ltd (UBL) on Thursday (October 19) reported a 19.8% year-on-year (YoY) decline in net profit at ₹107.6 crore for the second quarter that ended September 30, 2023.

In the corresponding quarter last year, United Breweries posted a net profit of ₹134.2 crore, the company said in a regulatory filing. CNBC-TV18 Poll had predicted a profit of ₹114 crore for the quarter under review.

In the quarter, total revenue stood at ₹1,888 crore during the period under review, up 14.2% against ₹1,682 crore in the corresponding period of the preceding fiscal. CNBC-TV18 Polls had predicted revenue of ₹1,753 crore for the quarter under review.

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At the operating level, EBITDA jumped 15.8 percent to ₹184.5 crore in the second quarter of this fiscal over ₹219 crore in the corresponding period in the previous fiscal. CNBC-TV18 Poll had predicted an EBITDA of ₹195 crore for the quarter under review.

EBITDA margin stood at 9.8% in the reporting quarter as compared to 13% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. CNBC-TV18 Poll had predicted a margin of 11% for the quarter under review.

The results came after the close of the market hours. Shares of United Breweries Ltd ended at ₹1,561.00, down by ₹6.20, or 0.40 percent on the BSE.

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