United Breweries Ltd (UBL) reported a significant fall in standalone net profit to Rs6.73 crore during the fourth quarter of 2016-17 fiscal on higher expenses.
It had posted a net profit of 52.37 crore in the same quarter of previous fiscal, the company said in a BSE filing.
Although the company’s net income on a standalone basis rose marginally during the period under review, its expenses remained higher compared to the year-ago period.
Net income stood at Rs2,562.03 crore in the last quarter of 2016-17, against Rs2,494.48 crore in the same period of previous year. Expenses jumped to Rs2,554.41 crore from Rs2,420.55 crore in the said period.
The Board has proposed dividend of Rs1.15 per equity share of Re 1 each amounting to Rs36.60 crore for the 2016 -17 fiscal subject to the approval at the ensuing annual general meeting, the filing added.