G M Breweries tumbled 4.85% to Rs 388.70 after the company announced weak Q3 results during market hours today.
On standalone basis, the company reported a 16.34% decline in net profit to Rs 13.98 crore in Q3 December 2019 over Q3 December 2018. Total revenue from operations declined 3.89% to Rs 119.74 crore in Q3 December 2019 as against Rs 124.58 crore in Q3 December 2018.
The company in notes to accounts clarified that the drop in PBT (profit before tax) is mainly on the back of unprecedented rise in cost of company's main raw material namely, rectified spirit. Net impact of increase in average price of rectified spirit is Rs 6.33 crore.
G M Breweries is engaged in the activities of manufacturing and marketing of alcoholic beverages; such as country liquor (CL) and Indian made foreign liquor (IMFL).
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