United Breweries Ltd (UBL) on Monday said the company is looking to invest in breweries in and around Uttar Pradesh.
The industry has grown in some markets like Uttar Pradesh, said Shekhar Ramamurthy, MD of the company.
“However, for UB that has not been a significant upside in volume because we ran out of capacity in UP so we couldn’t fully participate,” Ramamurthy said.
Ramamurthy said that the part of the volume growth that seen in the first quarter of this year is because the last year’s first quarter was weak due to the ban of liquor sale around highways in many states.
UBL on Friday reported a 37.08 percent jump in its standalone net profit to Rs 221.92 crore for the quarter ended June 30, helped by double-digit volume growth. It was a good quarter for United Breweries. The company saw a revenue growth of 11.5 percent, the EBITDA margins have substantially improved.