United Breweries Share Surges 10% on Strong Q1 Beer Sales

United Breweries Share Surges 10% on Strong Q1 Beer Sales Image: United Breweries website

VoM News Desk | April 24, 2024 | 06:13 PM IST | Breaking News | Follow on Google News

United Breweries Share Surges 10% on Strong Q1 Beer Sales

United Breweries Share Surges 10% on Strong Q1 Beer Sales

United Breweries share price soared nearly 10% on Wednesday after its promoter, Heineken N.V, reported robust beer sales in the January-March 2024 quarter.

The release by United Breweries highlighted Heineken N.V.’s statement, which revealed a 20% organic growth in net revenue in India, driven by volume and positive price mix. Beer volume expanded in the low-teens, outpacing the market, especially with innovations like the Queenfisher initiative introduced for International Women’s Day.

Key Takeaways:

1. United Breweries share price surged nearly 10%.
2. Heineken N.V. reported a 20% organic growth in net revenue in India.
3. Analysts anticipate strong sales growth for United Breweries.
4. Nuvama Institutional Equities projects a 10% volume rise in Q4FY24.
5. Kotak Institutional Equities expects an 8.1% year-on-year volume growth for the quarter ending March’2024.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.