?Brewers report 13% decline in profit for quarter ended in March 2017

India's largest brewer, United Breweries has reported a 87 per cent decline in profit for the quarter ended in March 2017 from a year ago on the back of shutdown of Bihar operations, destocking by liquor by retailers due to highway ban anticipation and increase in duty fee.

Kingfisher-maker posted profit of Rs 6.7 crore from Rs 52 crore in the corresponding quarter. Revenue for the same period grew by 2.7 per cent to Rs 2562 crore.

In a BSE filing, the company said, "The Supreme Court order directing all outlets within 500 meters to close from the 1st of April has had a significant impact on the industry in quarter 4. The industry saw a decline of about 13 per cent. We expect the impact of this ban to be most significant in the first two quarters of this fiscal year."

The company said in a separate filing that brewing operations at its manufacturing unit in Bihar have been discontinued due to prohibition of alcohol in the state.

Industry volume growth slipped by 5%, whereas UBL saw a 2.5% decline in volume.

United Breweries, which has 52 per cent market share, recently launched strong beer Kingfisher Storm and has plans to launch about half a dozen international brands to boost the declining market.