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GM Breweries profit misses consensus by 38.3% in fiscal Q4

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GM Breweries profit misses consensus by 38.3% in fiscal Q4

G.M.Breweries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was 3.53 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 5.72 rupees per share.

EPS declined 16.2% year over year from 4.21 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 51.6 million rupees, a decline of 15.6% from 61.1 million rupees in the year-earlier period.

The normalized profit margin declined to 6.6% from 8.2% in the year-earlier period.

Total revenue increased year over year to 779.0 million rupees from 749.9 million rupees, and total operating expenses climbed 6.9% year over year to 660.6 million rupees from 617.9 million rupees.

Reported net income decreased 5.8% year over year to 57.2 million rupees, or 3.91 rupees per share, from 60.8 million rupees, or 4.19 rupees per share.

For the year, the company's normalized net income totaled 11.46 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 14.56 rupees.

EPS declined 17.9% from 13.95 rupees in the prior year.

Normalized net income was 167.5 million rupees, a decrease of 17.9% from 204.0 million rupees in the prior year.

Full-year total revenue rose 6.5% from the prior-year period to 3.07 billion rupees from 2.89 billion rupees, and total operating expenses increased 10.2% year over year to 2.76 billion rupees from 2.51 billion rupees.

The company said reported net income decreased 13.5% year over year to 186.3 million rupees, or 12.74 rupees per share, in the full year, from 215.4 million rupees, or 14.73 rupees per share.

As of April 17, US$1 was equivalent to 62.45 Indian rupees.