Its revenue from operations was down 10.40 percent to Rs 3,099.91 crore during the March 2020 quarter, against Rs 3,459.73 crore in the corresponding period of the previous financial year.
Shares of United Breweries (UBL) skidded over 2 percent in morning trade on June 25, a day after the company reported a 39.27 percent decline in its consolidated net profit to Rs 41.82 crore for the March quarter of FY20.
The company had posted a net profit of Rs 68.87 crore during the January-March quarter of the previous financial year, UBL said in a regulatory filing.
Its revenue from operations was down 10.40 percent to Rs 3,099.91 crore during the March 2020 quarter, against Rs 3,459.73 crore in the corresponding period of the previous financial year. "COVID-19 impacted performance in the March 2020 quarter," said UBL in a post-earnings statement.
The company's net debt stood at Rs 220 crore. The focus on working capital management and the conservation of cash helped the company in funding the entire CAPEX program of Rs 400 crore, out of internal accruals without resorting to any term borrowing.
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