On a consolidated basis, United Breweries (UBL) reported 18.8% jump net profit to Rs 126.78 crore on 11.3% decline in net sales to Rs 1291.10 crore in Q3 FY21 over Q3 FY20.The beer maker s profit before tax stood at Rs 170.88 crore in Q3 FY21, up 20.7% from Rs 141.62 crore in Q3 FY20. Total tax expense spiked 26% year on year to Rs 43.69 crore in Q3 FY21 over Q3 FY20.
UBL said it saw sharp volume recovery over the previous quarter with most markets bouncing back. All regions barring North recorded strong growth compared to the previous quarter with all India sequential growth clocking 37%.
With most markets showing recovery in Q3, UBL s volumes were at 85% of previous year, helped by the doubling of volume in West Bengal, growth in the markets of Uttaranchal, Madhya Pradesh, Jharkhand, North East, Karnataka, Haryana and Himachal Pradesh. Tamil Nadu and Rest of Maharashtra remained flat. The strong segment registered a quicker recovery when compared to the mild.
BUY HINDPETRO | TARGET: Rs 230 | STOP LOSS: Rs 213 The stock has witnessed a golden crossover on the daily chart where 50-DMA has crossed its 200-DMA from down to up. It has also formed a strong base at around 205 levels and is making a higher top and higher bottom formation on the daily chart. The momentum indicators and oscillators are in the buy mode on the weekly scales which also supports the positive momentum. The stock also witnessed a short covering of positions and now we can expect a build-up of long positions going forward.
BUY BIOCON | TARGET: Rs 480 | STOP LOSS: Rs 448