United Breweries FY’11 net profit jumps nearly 52 per cent to over Rs147 crore
24 Nov 2011
Vijay Mallya flagship United Breweries has posted a net profit of Rs147.29 crore for the year ended 31 March 2011 against Rs96.97 crore during the year ended 31 March 2010, a 51.89 per cent jump year-on-year.
Total income of the company rose to Rs3,95.99 crore during the year ended 31 March 2011, from Rs2,50.84 crore during the year ended 31 March 2010, audited results released today showed.
The board of directors of the company at its meeting on 23 November 2011, inter alia, recommended payment of a dividend of Re0.60 per equity share of Re1 each.
The results include those of Associated Breweries and Distilleries Limited (ABDL), Millennium Alcobev Private Limited (MAPL), Empee Breweries Limited (EBL), Millennium Bear Industries Limited (MBIL), United Millennium Breweries Limited (UMBL) and UB Nizam Breweries Private Limited (UBN), which have been amalgamated into the company effective 1 April 2010.
However, since the results of the UB group for the year ended 31 March 2011 includes the financials of these entities, it is not comparable with its previous year's results, which do not contain financials of these companies.
On account of the consolidation of the above companies, the audited after-tax profits declined by Rs20.69 crore in comparison to the unaudited financials for the 12 months ended 31 March 2011.