Bira lost more money in FY17
The beer drinkers may not believe this , but the it is a fact that B9 Beverages Pvt. Ltd, maker of the popular Bira 91 beer, posted a loss of Rs.55.06 crore for the year ended 31 March 2017, a big jump from the Rs12.32 crore the previous year.These figures are from the company’s latest filing with the Registrar of Companies.
As per the RoC records, revenue from operations for the year ended 31 March 2017 stood at Rs 30.9 crore, up from Rs 4.02 crore in the fiscal year ended March 2016. While a majority of the revenue came from selling beer in India, the company’s US subsidiary B9 Beverages Inc. generated sales of Rs 3.4 crore from the US market during the year.
B9 Beverages, which has so far raised about $30 million, is majority-owned by venture capital fund Sequoia Capital India Advisors. Besides founder Ankur Jain, other minority investors in the company include Chennai-based asset management firm Anicut Capital; General Atlantic managing director Shantanu Rastogi and senior vice-president Alok Misra; Naik Family Trust 2013; Kunal Bahl and Rohit Bansal, co-founders of e-commerce firm Snapdeal; Ashish Dhawan, co-founder of private equity firm ChrysCapital; Mayank Singhal, venture investor with RNT Capital Advisors; and Deepinder Goyal, founder of restaurant discovery platform Zomato.
