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Hit by unusual heavy rains, Heineken's India volume declines in Jul-Sep quarter
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Heineken’s India beer volumes fell mid-single-digits in Q2 due to heavy rains, but revenue rose on price and premium moves.
Dutch brewing major Heineken NV, which holds a controlling stake in United Breweries Ltd. (UBL) in India, reported a mid-single-digit decline in beer volumes in the September quarter due to unusually heavy monsoon rains in key regions. However, organic net revenue in India grew by a mid-single-digit percentage, aided by price hikes and premiumisation of the portfolio. The company out-performed broader category trends despite volume headwinds.