Beer maker United Breweries Ltd on Friday reported a 15.9 percent year-on-year (YoY) fall in net profit at Rs 136.2 crore for the first quarter that ended June 30, 2023.

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In the corresponding quarter last year, United Breweries posted a net profit of Rs 162 crore, the company said in a regulatory filing. A CNBC-TV18 poll had predicted a profit of Rs 157 crore for the quarter under review.

In the quarter, the total revenue stood at Rs 2,274.8 crore during the period under review, down 6.7 percent against Rs 2,438.7 crore in the corresponding period of the preceding fiscal. The CNBC-TV18 poll had predicted a revenue of Rs 2,582.5 crore.

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At the operating level, EBITDA declined 16.2 percent to Rs 223.1 crore in the first quarter of this fiscal, over Rs 265 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 9.8 percent in the reporting quarter compared to 11 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The results came after the close of the market hours. Shares of United Breweries ended at Rs 1,567.25, up by Rs 14.35, or 0.92 percent on the BSE.