UB Holdings profits dip, revenues up

Loss in investments of Rs 5.44 crore has dragged United Breweries (Holdings) net profit by 29.79 per cent to Rs 1.32 crore.The company in a filing with the NSE said that its revenues went up by over 15 per cent to Rs 119.25 crore. Over 46 per cent of revenues (Rs 55.69 crore) came from alcoholic beverages. UB Holdings said that as of July 30, 2012, its exposure to Kingfisher Airlines (KFA) stood at Rs 13,013.9 crore. This includes investment in equity (Rs 2,114.28 crore), corporate guarantees to banks and aircraft lessors (Rs 8,919.86 crore), advances (Rs 1,814.14 crore) and other receivables (Rs 165.62 crore). The total amount invoked and outstanding as on June 30, 2012, is Rs 835.77 crore. UB Holdings shares were down 5.16 per cent to close at Rs 86.45 on Thursday.