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