Carlsberg India FY24 sales cross Rs 8,000 crore, profit up 60.5% to Rs 323 crore

New Delhi: Leading brewer Carlsberg India's profit jumped 60.5 percent to Rs 323.1 crore in FY’24, according to the company's RoC filing.

According to financial data accessed through the business intelligence platform Tofler, Carlsberg India's total income was up 15.2 percent to Rs 8,044.9 crore for the financial year ended March 31, 2024.

This is the highest revenue for Carlsberg in India, crossing the milestone of Rs 8,000 crore, reaching nearly USD one billion from sales.

"During the financial year 2023-24, profit amounting to Rs 323 crore under the standalone financial statement has been carried forward to 'Reserve and Surplus' including other comprehensive income in the balance sheet," the company said.

The company, while informing its state of affairs, said the beer industry continued to post healthy growth in volumes.

"Cash and bank balances increased from Rs 9,304 million to Rs 11,165 million with strong business performance, better trade working capital and lower capital investment," it said.

Carlsberg India Pvt Ltd had reported a total profit of Rs 201.3 crore a year before in FY'23, and its revenue from operations was at Rs 6,937 crore on a standalone basis.

Its "Excise duty expense" in FY'24 was at Rs 4,877.8 crore, up 13.4 per cent. This was at Rs 4,301.6 crore a year before in FY'23.

Advertising promotional expenses of Carlsberg India were at Rs 96.5 crore in FY'24 and total expenses stood at Rs 7,628.3 crore, up 13.4 per cent.

While the market share from the data from the corporation states declined to 13.3 per cent, from 14.9 per cent in the fiscal year 2023-24, Carlsberg India continues to hold the number three position in the Indian beer market.

Carlsberg India is the subsidiary of Singapore-based South Asian Breweries Pte Ltd, owned by Danish brewing major Carlsberg.

Carlsberg competes in the Indian beer industry with Heineken-owned United Breweries Ltd and AB InBev. These three companies account for 85 per cent of the beer sold in India.