ICICI Securities Ltd | Retail Equity Research Net revenues for Q1FY18 grew 7% YoY to | 1674.2 crore (I-direct estimate: | 1460.8 crore), primarily driven by a price hike in key open market. Though industry volumes for the quarter de-grew 1%; volumes for UBL during the quarter grew 1%; indicating a market share gain of around 1.5%. Volumes were broadly in line with Q1FY17 volumes (~48.7 million cases) as the ban in major beer drinking southern cities (Telangana & AP) was effective from July 1, 2017. The...