Business

GM Breweries plunges 12% on weak Q3 results

GM Breweries reported a Q3 profit 16.71 crore, a drop from the profit of Rs 22.3 crore reported in the same quarter last year.

Shares of GM Breweries fell as much as 12.5 percent in early trade after the company reported a drop in profit for the quarter ended December 31.

The company reported a Q3 profit of Rs 16.71 crore, a drop from the profit of Rs 22.3 crore reported in the same quarter last year.

Total expenses for the quarter rose to Rs 425.5 crore, an increase from Rs 401 crore in the corresponding quarter.

GM Breweries’ total revenues of Rs 448.9 crore saw a slight YoY increase of 3.5 percent.

At 09:22 hrs, GM Breweries was quoting at Rs 635 on the BSE, down Rs 89.30, or 12.33 percent.

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