UNITED BREWERIES Announces Quarterly Results (1QFY21); Net Profit Down 169.5%

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UNITED BREWERIES Announces Quarterly Results (1QFY21); Net Profit Down 169.5%
Tue, 1 Sep

UNITED BREWERIES has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

UNITED BREWERIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m47,07230,99012,623-59.3%-73.2%
Other incomeRs m32614131.1%-55.4%
TurnoverRs m47,10430,99612,637-59.2%-73.2%
ExpensesRs m43,78329,66713,579-54.2%-69.0%
Gross profitRs m3,2891,323-957-172.3%-129.1%
DepreciationRs m692734505-31.1%-27.0%
InterestRs m77487250.2%-6.9%
Profit before taxRs m2,552547-1,519-377.6%-159.5%
TaxRs m907135-376-377.9%-141.5%
Profit after taxRs m1,645412-1,143-377.5%-169.5%
Gross profit margin%7.04.3-7.6
Effective tax rate%35.524.724.8
Net profit margin%3.51.3-9.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 73.2% on a year-on-year (YoY) basis. The expenses were down by 69.0% YoY during the same period.
  • The company's operating profit declined by 129.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.6% in 1QFY21 as against 7.0% in 1QFY20.
  • Depreciation charges declined by 27.0% and finance costs declined by 6.9% YoY, respectively.
  • Other income declined by 55.4% YoY during the quarter.
  • Net profit for the quarter declined by 169.5% YoY. Net profit margins during the quarter declined from 3.5% in 1QFY20 to -9.0% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 59.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 54.2% QoQ during the same period.
  • The company's operating profit declined by 172.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.6% in 1QFY21 as against 4.3% in 4QFY20.
  • Net profit for the quarter declined by 377.5% QoQ, while net profit margins declined from 1.3% in 4QFY20 to -9.0% in 1QFY21.

To see how UNITED BREWERIES has performed over the last eight quarters,please visit here.

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UNITED BREWERIES Share Price Performance

Over the last one year,UNITED BREWERIES share price has moved down from Rs 1,372.0 to Rs 1,010.0, registering a Loss of Rs 362.0 or around 26.4%.

Overall, the S&P BSE SENSEX is up 5.9% over the year.

Current Valuations

At the current price of Rs 1,010.0, the price to earnings (P/E) ratio of UNITED BREWERIES stands at 180.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 8.4 times.

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