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Shares of United Breweries jumped to a record high on strong Q4 results. The stock jumped as much as 7.6 per cent to a record high of Rs 1,570. The beer brewer's stock posted biggest intraday percentage gain since February 5.
The company’s Q4 profit surged over 13 times to Rs 90.88 crore ($13.32 million), with a volume growth of 24 per cent. Net revenue rose 32 per cent, primarily due to volume growth and also a favourable state mix.
The company said that the growth was partly the result of a low comparative, as Q4 of 2016-17 already included the effects of highway ban. Nearly 2.5 million shares change hands as of 0541 GMT, over 7 times the 30-day average volume.
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