United Breweries share fell over 2% in trade today after the firm reported a consolidated net loss of Rs 114.50 crore for the first quarter ended June 30, on account of decline in sales due to the pandemic. It posted a net profit of Rs 164.69 crore during the April-June quarter of the previous fiscal.
The large cap share fell up to 2.01% to Rs 945.25 on BSE. The share has lost 25.13% since beginning of this year and fallen 28.85% during last one year. The stock is down 3.52% in the last 2 days.
United Breweries share is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Market cap of the firm fell to Rs 25,263 crore. Total 0.71 lakh shares changed hands amounting to turnover of Rs 6.82 crore.
Revenue from operations slipped 73.17 per cent to Rs 1,262.82 crore during the quarter under review against Rs 4,708.42 crore in the corresponding period previous fiscal.
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UBL's total expenses declined 68.21 per cent to Rs 1,416.43 crore in Q1 FY21 compared to Rs 4,456.25 crore a year ago.
According to the company, "its peak season was adversely affected by the pandemic" as the COVID-19 lockdown led to complete closure of all outlets.
"The primary volumes for the quarter in comparison to the corresponding quarter of the previous year were down 77 per cent," said UBL.
Its revenue from beer segment fell 73.30 per cent to Rs 1,255.67 crore in the first quarter, as against Rs 4,702.92 crore in the year-ago period. However, its revenue from non-alcoholic beverages rose 30 per cent to Rs 7.15 crore in the quarter, compared to Rs 5.50 crore a year ago.
Meanwhile, Sensex traded 23 points higher at 37,900 and Nifty gained 18 points to 11,197. Market was experiencing bouts of volatility in afternoon trade today.
Stocks in news: ICICI Bank, Glenmark Pharma, United Breweries, Fortis Healthcare, Berger Paints