UNITED BREWERIES Announces Quarterly Results (3QFY20); Net Profit Down 2.6%

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UNITED BREWERIES Announces Quarterly Results (3QFY20); Net Profit Down 2.6%
Mon, 10 Feb

UNITED BREWERIES has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

UNITED BREWERIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m31,88435,87832,525-9.3%2.0%
Other incomeRs m21193582.5%64.3%
TurnoverRs m31,90535,89732,560-9.3%2.1%
ExpensesRs m29,40533,95330,318-10.7%3.1%
Gross profitRs m2,4791,9252,20814.7%-10.9%
DepreciationRs m6656897356.8%10.5%
InterestRs m62889912.5%59.5%
Profit before taxRs m1,7721,1671,40820.6%-20.6%
TaxRs m681163442091.7%-49.4%
Profit after taxRs m1,0921,1511,064-7.6%-2.6%
Gross profit margin%7.85.46.8
Effective tax rate%38.41.324.4
Net profit margin%3.43.23.3
* 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 grew 2.0% on a year-on-year (YoY) basis. The expenses were up by 3.1% YoY during the same period.
  • The company's operating profit declined by 10.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.8% in 3QFY20 as against 7.8% in 3QFY19.
  • Depreciation charges increased by 10.5% and finance costs increased by 59.5% YoY, respectively.
  • Other income increased by 64.3% YoY during the quarter.
  • Net profit for the quarter declined by 2.6% YoY. Net profit margins during the quarter declined from 3.4% in 3QFY19 to 3.3% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 9.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 10.7% QoQ during the same period.
  • The company's operating profit increased by 14.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 6.8% in 3QFY20 as against 5.4% in 2QFY19.
  • Net profit for the quarter declined by 7.6% QoQ, while net profit margins increased from 3.2% in 2QFY19 to 3.3% in 3QFY20.

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 1,380.7 to Rs 1,309.1, registering a Loss of Rs 71.6 or around 5.2%.

Overall, the S&P BSE SENSEX is up 10.6% over the year.

Current Valuations

At the current price of Rs 1,309.1, the price to earnings (P/E) ratio of UNITED BREWERIES stands at 76.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 10.9 times.

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