UB Holdings disclosed narrowing of its standalone net loss at Rs 43.14 crore for the fourth quarter ended March 31, 2016. The company had faced a net loss of Rs 373.73 crore during the same period of the previous financial year. Nonetheless, its total income from operations grew by 33.63 per cent to Rs 103.62 crore during the March quarter compared to Rs 77.54 crore in the same period a year ago, according to UB Holdings.
UB Holdings share price displayed slight positivity and is quoting at a rise of 1.18% at Rs. 30. Th stock saw a spurt in volume by more than 1.14 times. The stock opened at Rs. 28.65.
On May 24, United Breweries (Holdings) Ltd (UBHL) had sought time till July to frame results for the last financial year because of "uncertainties" resulting from prevailing cases against its Chairman Vijay Mallya. In a letter to leading bourses, the company mentioned that it is being "hindered from complying with requirements" of submitting its audited standalone results for 2015-16 by May 31. The letter from the company read that Kingfisher Airlines, a group company of UBHL, is in debt to different banks. In this regard, Vijay Mallya, Chairman of UBHL, has made a settlement offer before the Supreme Court to the consortium of banks headed by SBI. The settlement offer is under consideration by the consortium. It further added that a part of the considerable settlement amount to be paid to the consortium of banks is to be met by monetizing certain assets of the UB Holdings.
UB Holdings share price touched its 52 week high value at Rs. 35.80 on 10th Nov ‘15 while its 52 week low is seen at Rs. 17.70 on 17th Feb ‘16. The company has a market cap amounting to Rs. 198.12 (Cr).For further details regarding its closest support and resistance levels, refer to UB Holdings share price history.
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