Financial Daily from THE HINDU group of publications
Wednesday, May 01, 2002
Financial Daily from THE HINDU group of publications Wednesday, May 01, 2002 |
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Corporate Results
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Breweries UB slips into the red with Rs 57.9-cr loss Our Bureau
BANGALORE: United Breweries Ltd posted a net loss of Rs 57.9 crore for the year ended March 31, 2002. The company reported a net profit of Rs 3.1 crore in the previous year. However, net sales during 2001-02 increased to Rs 369.29 crore from Rs 331.93 crore in the previous year. The company sold about 31 million cases of beer in 2001-02, accounting for roughly 40 per cent share in the domestic market pegged at 76 million cases. For the quarter ended March 31, 2002, the company's loss was pegged at Rs 22.68 crore compared to Rs 12.8 crore in the previous corresponding period. Net sales for the quarter moved up to Rs 112 crore (Rs 97.34 crore). UB has informed the Bombay Stock Exchange that it has concluded a Memorandum of Settlement with the workmen represented by the United Breweries Employees Union for the company's Bangalore unit. This follows the restructuring and demerger of the company's beer business. The company also informed the stock exchange that one of its oldest directors on the board, Mr Morris Mathias, expired on April 28.
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