United Breweries shares rise as Q3 net profit zooms 111% to ₹81 crore, revenue falls 11%

This comes after the company reported its earnings for the third quarter of the 2025-26 financial year (Q3FY26).

The stock fell as much as 0.57% to the session’s low of ₹1,610.50 per equity share.

At 1:19 pm, it was trading 0.13% higher at ₹1,621.80 per unit.

The scrip has gained 7% in the past week and 5% over the month. On a year-to-date basis, it has risen 1%.

While the share touched a 52-week low of ₹1,401.10 on January 27, 2026, it hit a year’s high of ₹2,294.90 per unit on April 22, 2025.

United Breweries Q3 result

In a regulatory filing on Tuesday, the company posted a 110.94% year-on-year (YoY) increase in its consolidated net profit to ₹81 crore in the December quarter of FY26, compared to ₹38.40 crore in the year-ago period.

The surge in its bottom line was driven by growth in its premium portfolio and improved margins.

The company, controlled by Dutch multinational brewing company Heineken NV, had posted a revenue from operations of ₹3,936.99 crore, marking an 11.05% YoY decline from ₹4,426.55 crore in the third quarter of the 2024-25 fiscal year (Q3FY25).

"Beer category in Q3, FY26 was impacted by a colder-than-usual winter. Overall, sell-in volume declined 1.3%, resulting in 2.6% growth in YTD-FY26," UBL said in its earnings presentations.

Geographically, in the North, comprising Rajasthan, Uttar Pradesh, Haryana, Delhi & Punjab, volumes declined 16% in the quarter, while in East and South, volumes fell 2% each. However, volume was up 20% in the Western markets of Maharashtra, Madhya Pradesh, Chhattisgarh & Daman.

"Volume decline mainly driven by Telangana, Rajasthan & Karnataka, partially offset by Andhra Pradesh & Maharashtra," it said.

Its underlying price mix was positively impacted mainly by price increases in key states, including Telangana, Rajasthan & Uttar Pradesh.

UBL’s net sales in Q3 were up 4%, driven by premiumisation and positive price-mix, as the premium volumes grew ahead of the portfolio.

"The gross profit margin in Q3 at 45.3% is the highest in 3 years, driven by positive price mix, mainly from localisation of portfolio and operational excellence," it said.

Total expenses of UBLs were at ₹3,797.06 crore, down 12.7% in the December quarter of FY26.

Its total income in the December quarter was down 11.01% to ₹3,948.08 crore.

United Breweries outlook

Over the outlook, UBL said, "We continue to focus on revenue management & cost initiatives, to drive margin accretion with continued investments behind our brands and capabilities."

UBL has a total market capitalisation of ₹42,886.52 crore, as of February 11, 2026, according to data on the NSE.