Shares of United Breweries advanced over 5 per cent in early trade on Friday after the company on Thursday posted over 13-fold jump in its standalone net profit at Rs 90.88 crore for the fourth quarter ended March 2018 led by strong volume growth.
It had reported a net profit of Rs 6.73 crore in the same quarter last year.
The scrip was trading 5.50 per cent up at Rs 1,245 at around 9.25 am (IST). Shares of the company opened at Rs 1221.25 and touched a high and low of Rs 1248.55 and Rs 1211, respectively, in trade so far.
Benchmark BSE Sensex was up 125 points, or 0.36 per cent, at 34,788.51 at around the same time.
The companys total income during the quarter under review rose 27.84 per cent to Rs 3,275.38 crore as against Rs 2,562.03 crore in the corresponding quarter of the previous fiscal.
“In the fourth quarter ended March 2018, UBL recorded a volume growth of 24 per cent compared with industry growth of 22 per cent," the company said in a statement.
The growth was partly the result of a low comparative, as the fourth quarter of 2016-17 already included the effects of the highway ban.
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