You are here: Home » Companies ยป Results
Business Standard

United Breweries Holdings Q4 net loss narrows to Rs 43 crore

Shares of the company were trading at Rs 29.80 per scrip on the BSE, up 0.34 per cent

Press Trust of India  |  New Delhi 

United Breweries Holdings Q4 net loss narrows to Rs 43 crore

United Breweries (Holdings) Ltd on Thursday reported narrowing of its standalone net loss at Rs 43.14 crore for the fourth quarter ended March 31, 2016.

The company had posted a net loss of Rs 373.73 crore during the same period of the previous financial year.

However, its total income from operations rose by 33.63 per cent to Rs 103.62 crore during the March quarter as against Rs 77.54 crore in the same period a year ago, United Breweries Holdings said in a filing to the BSE.

Shares of United Breweries Holdings were trading at Rs 29.80 per scrip on the BSE during the morning trade, up 0.34 per cent, from its previous close.

On May 24, United Breweries (Holdings) Ltd (UBHL) had sought time till July to file results for the last fiscal due to "uncertainties" resulting from ongoing cases against its Chairman Vijay Mallya.

In a letter to leading bourses, UBHL said it is being "hindered from complying with requirements" of submitting its audited standalone results for 2015-16 by May 31.

"As you may be aware, Kingfisher Airlines, a group company of UBHL, is in debt to several banks. In this regard, Vijay Mallya, Chairman of UBHL, has made a settlement offer before the Supreme Court to the consortium of banks headed by SBI," the company had said in the letter.

The settlement offer is under consideration by the consortium. A part of the substantial settlement amount to be paid to the consortium of banks is to be met by monetising certain assets of the UBHL, it added.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, September 01 2016. 12:22 IST