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HomeNewsBusinessStocksGM Breweries reports 1.5% profit shrinkage in Q2, shares fall 6%

GM Breweries reports 1.5% profit shrinkage in Q2, shares fall 6%

GM Breweries' margin was also down 210 basis points YoY at 19.6 percent in Q2FY24.

October 10, 2023 / 13:35 IST
Net profit for GM Breweries fell 1.5 percent year-on-year (YoY) at Rs 22.4 crore in the July-to-September quarter, reported GM Breweries in its exchange filing.
     
     
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    GM Breweries shares were down 6.18 percent at Rs 743.85 at 12.15 pm after net profit for the company was down in the July-to-September quarter.

    Net profit for GM Breweries fell 1.5 percent year-on-year (YoY) at Rs 22.4 crore in the July-to-September quarter, reported the company in its exchange filing.  Net profit for the company in the corresponding quarter was Rs 22.7 crore.

    GM Breweries' margin was also down 210 basis points YoY at 19.6 percent in Q2FY24. However, revenue for the company was up 6.8 percent YoY at Rs 151.5 crore in the July-to-September quarter.

    EBITDA was down 3.8 percent YoY at Rs 29.7 crore in Q2FY24. EBITDA in the corresponding quarter was at Rs 31 crore.

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    Around 4 lakh GM Breweries shares changed hands on the exchanges, which is two times more than the company’s monthly traded average.

    GM Breweries shares have gained 33 percent in the last six months and 17 percent in the last one year.

    The company's product portfolio comprises country liquor and Indian made foreign liquor and has brands like GM Santra, GM Doctor, and others.

    Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Moneycontrol News
    first published: Oct 10, 2023 01:17 pm

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