Shares of GM Breweries Ltd. experienced a notable recovery from earlier lows to post gains on Tuesday following the announcement of the company’s June quarter results.
For the April-June period, GM Breweries reported a net profit of ₹24.9 crore, marking a substantial 25% increase compared to the same period last year. The company also saw its revenue grow by 3.8%, reaching ₹152.4 crore from the previous year’s ₹147 crore. This revenue figure accounts for excise duty deductions from the overall revenue from operations.
The company’s Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) saw an impressive year-on-year increase of 18.6% for the June quarter, totaling ₹30.9 crore. Additionally, the EBITDA margin expanded by nearly 300 basis points, rising to 20.3% from last year’s 17.7%.
In a move to reward its shareholders, GM Breweries recently allotted bonus shares, offering one free share for every four shares held as of the record date in May this year.
GM Breweries specializes in the manufacturing and marketing of alcoholic beverages, including country liquor and Indian-made foreign liquor. According to the company’s website, GM Breweries holds the title of the largest manufacturer of country liquor in Maharashtra, boasting a significant market share.
Following the announcement of its quarterly results, shares of GM Breweries are trading 3.2% higher at ₹936.2. The stock has surged 61% so far in 2024 and has doubled in value over the past 12 months.
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