Heineken has said that its India business revenue rose by high-single-digit organically in the first quarter of

Key Highlights :

1. United Breweries traded in the green after parent Heineken N.V. said India's business revenue grows by high-single-digit organically in the first quarter of 2023. This was supported by volume growth and pricing. Kingfisher Ultra and Heineken Silver boosted premium portfolio performance.

2. In its press release, Heineken said, "In India, net revenue (beia) grew by a high-single-digit organically, driven by volume growth and pricing. Beer volume grew by a mid-single-digit, led by Kingfisher."

3. Further, it added, "the premium portfolio grew in the high-teens, led by Kingfisher Ultra and Heineken Silver."

4. UBL's share price traded at ₹ 1,401.50 apiece up by ₹ 1.55 or 0.11% on BSE. The stock was near the day's high of ₹ 1,403.95 apiece on the exchange.

5. Dolf Van Den Brink, Chairman of the Executive Board/CEO at Heineken said, "We start the year with strong revenue growth driven by pricing and disciplined revenue management, while we materially increase investment behind our brands. Business performance in Europe and the Americas regions is encouraging, with consumer demand holding up better than expected in the first quarter. Results in the Asia Pacific and Africa, Middle East and Eastern Europe regions were disappointing, hindered by temporary volatility in Vietnam and Nigeria, leading to demand softness."

6. In Q1 of 2023, Heineken's revenue growth stood at 9.2%. Net revenue (beia) organic growth came in at 8.9%. while per hectolitre stood at 12.3%. Excluding Russia, Heineken posted a 5.7% volume growth. However, if not excluded, the volume growth comes to around 2.3%.

7. He said the company obtained the final regulatory approval in South Africa, and they look forward to welcoming over 5,400 new colleagues of Distell and Namibian Breweries into HEINEKEN and to adding more than €1 billion in net revenue and €150 million operating profit to their African footprint.

8. Overall, the Group kept the outlook for the full year unchanged ---operating profit (beia) expected to grow organically mid- to high-single-digit.

     Heineken said, in India, net revenue (beia) grew by a high-single-digit organically, driven by volume growth and pricing. Beer volume grew by a mid-single-digit, led by Kingfisher.

     The company reported organic growth of 10.4 percent in India for the fiscal year ended 31 March 2018. This growth was driven by volume growth of 9.9 percent and pricing growth of 2.8 percent.

     Heineken’s beer portfolio in India includes Kingfisher, Heineken Lager, Heineken Light, Heineken Special, Heineken Zero, Heineken Red and Heineken White.

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