GM Breweries slips over 6% as Q3 net profit falls 16%

The company's operating profit declined 26 per cent year on year at Rs 20.39 crore in Q3FY20, against Rs 27.48 crore in the year-ago quarter.

Shares of GM Breweries slipped over 6 per cent in the afternoon deals on Tuesday after the company reported a weak set of numbers for the quarter ended December 2019 (Q3FY20). 

The company's operating profit declined 26 per cent year-on-year (YoY) to Rs 20.39 crore in Q2FY20, against Rs 27.48 crore in the year-ago quarter. EBITDA (earnings before interest, tax, depreciation and amortisation) margin declined to 4.75 per cent from 6.12 per cent.

The company's revenue from operations during the quarter fell 4.37 per cent YoY to Rs 429 crore. In the year-ago period, the numbers stood at Rs 448 crore. CLICK TO VIEW PRESS RELEASE

The company's profit before tax (PBT) fell 28 per cent to Rs 18.67 crore against Rs 25.99 crore in December quarter of the financial year 2018-19.

Net profit or profit after tax (PAT) for the quarter under review stood at Rs 13.98 crore, down 16.3 per cent YoY. The company had logged profit of Rs 16.71 crore in the year-ago quarter.

Earnings per share (EPS) stood at Rs 7.65 against Rs 9.14 last year. 

At 02:46 pm, the stock was trading over 5 per cent lower at Rs 386.55 apiece on the BSE. In comparison, the benchmark S&P BSE Sensex was trading 114 points or 0.28 per cent higher at 40,790 levels.