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GM Breweries fiscal Q2 profit climbs YOY

G.M.Breweries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 6.88 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 7.05 rupees per share.

EPS increased year over year from 1.47 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 100.6 million rupees, a gain from 21.6 million rupees in the prior-year period.

The normalized profit margin increased to 10.7% from 2.9% in the year-earlier period.

Total revenue increased 24.9% year over year to 937.8 million rupees from 750.6 million rupees, and total operating expenses climbed 8.9% on an annual basis to 770.6 million rupees from 707.5 million rupees.

Reported net income increased from the prior-year period to 94.3 million rupees, or 6.45 rupees per share, from 23.3 million rupees, or 1.59 rupees per share.

As of Oct. 20, US$1 was equivalent to 64.96 Indian rupees.