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GM Breweries profit beats consensus by 33.5% in fiscal Q3


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GM Breweries profit beats consensus by 33.5% in fiscal Q3

G.M.Breweries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 9.74 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 7.30 rupees per share.

EPS rose year over year from 3.58 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 142.4 million rupees, an increase from 52.4 million rupees in the year-earlier period.

The normalized profit margin rose to 15.3% from 6.7% in the year-earlier period.

Total revenue climbed 17.9% year over year to 928.7 million rupees from 787.4 million rupees, and total operating expenses fell year over year to 705.1 million rupees from 716.5 million rupees.

Reported net income increased year over year to 155.7 million rupees, or 10.65 rupees per share, from 60.5 million rupees, or 4.14 rupees per share.

As of Jan. 7, US$1 was equivalent to 66.53 Indian rupees.