United Breweries (UBL) share price dropped over 2% in Thursday's trade after the company posted weak results for the quarter ended March 2020.
The company reported a 39.27% decline in its consolidated net profit to Rs 41.82 crore for the fourth quarter ended March 2020 against Rs 68.87 crore during the January-March quarter of the previous financial year.
United Breweries share price fell 2.79% to the intraday low of Rs 1,022.55 against the previous close of Rs 1,051.90 on BSE. The stock has risen 4.96% in last 6 days.
The stock has fallen 17% year-to-date. However, it has risen 3.58% in one week and 14.7% in one month. The stock trades higher than 5, 20, 50 and 100-day moving averages but lower than 200-day moving averages.
Revenue from operations declined 10.40% to Rs 3,099.91 crore during the March 2020 quarter against Rs 3,459.73 crore in the corresponding period last year.
For the financial year 2019-20, the company's net profit fell 23.96% to Rs 428.29 crore as against Rs 563.31 crore in the previous year.