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GM Breweries profit misses consensus by 65.8% in fiscal Q2

G.M.Breweries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 1.47 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 4.31 rupees per share.

EPS fell 60.6% year over year from 3.74 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 21.6 million rupees, a decrease of 60.5% from 54.6 million rupees in the year-earlier period.

The normalized profit margin declined to 2.9% from 7.8% in the year-earlier period.

Total revenue climbed 7.2% on an annual basis to 750.6 million rupees from 700.1 million rupees, and total operating expenses increased 15.9% year over year to 707.5 million rupees from 610.4 million rupees.

Reported net income fell 60.4% on an annual basis to 23.3 million rupees, or 1.59 rupees per share, from 58.9 million rupees, or 4.03 rupees per share.

As of Oct. 16, US$1 was equivalent to 61.79 Indian rupees.