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India's United Breweries jumps after quarterly profit nearly triples

By Reuters News

** Shares of United Breweries UBBW.NS climb 6.8% to 1,221.5 rupees; set for highest daily pct rise since April 2024

** Heineken-owned spirit-maker's Sept-qtr net profit nearly triples to 1.35 billion indian rupees

** Sept-qtr rev from ops jumps 23.7% from same quarter last year to 46.23 billion rupees

** Co's other income nearly triples to 413 million rupees as well due to income tax refunds; incurs inventory-related gains worth 389.5 million rupees

** EBITDA margins expanded by 480 bps while EBITDA grew 108%, co says in earnings statement

** Stock rated "Hold" on average by 19 analysts; median PT at 1,420 rupees -- LSEG-compiled data

** YTD, stock has lost almost a quarter of its value

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