Published on 18/05/2017 4:17:31 PM | Source: Dion Global Solutions Ltd
United Breweries drops after Q4 net slips sharply
Shares of United Breweries fell over 2 per cent on the Bombay Stock Exchange (BSE) after the company reported a drop of 87.1 per cent in its standalone net profit after taxes (PAT) at Rs 6.73 crore for the fourth quarter ended March 31, 2017, hit by higher expenses.
The standalone PAT of the company stood at Rs 52.37 crore during the same period a year ago,” United Breweries Ltd said in a filing to the Bombay Stock Exchange. Besides, the company’s board has recommended payment of dividend at the rate of 115 per cent i.e. Rs 1.15 per equity share of Re 1 for the FY ended March 31, 2017 Reacting on the company’s performance in Q4, shares of the company dropped 2.16 per cent to Rs 795.95 apiece on Bombay Stock Exchange at 15:23 hours. In a similar fashion, stocks of the company slide 1.87 per cent to Rs 796.95 apiece, or 15.20 points, on National Stock Exchange at 15:23 hours. Meanwhile, the broader benchmark BSE Sensex was trading at 30,423.92, down 0.77 per cent, or 234.85 points, at 15:26 hours.