G M Breweries reported a 3.8% rise in net profit to Rs 22.69 crore on 22.35% increase in revenue to Rs 141.86 crore in Q2 FY23 over Q2 FY22.
Profit before tax in Q2 FY23 stood at Rs 30.32 crore, up by 3.84% from Rs 29.20 crore posted in the same period last year.Total expenses jumped 26.11% year on year to Rs 532.60 crore in the quarter ended 30 September 2022. Raw material costs surged by 27.92% to Rs 101.02 crore in Q2 FY23 from Rs 78.97 crore in Q2 FY22.
Sequentially, the company's net profit rose 40.4% from Rs 16.16 crore posted in Q1 FY23. However, revenue declined by 0.11% from Rs 142.02 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). The company is the largest manufacturer of country liquor in the state of Maharashtra with a sizeable market share.
The scrip declined 2.79% to currently trade at Rs 617.75 on the BSE.
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