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GM Breweries announced Q2FY24 results:
1. Financial Performance:
- The company reported a total revenue from operations of Rs 59,447 lakh for the quarter ended September 30, 2023, compared to Rs 57,939 lakh in the previous quarter and Rs 56,190 lakh in the same quarter last year.
- Profit from continuing operations before tax stood at Rs 2,947 lakh for the quarter, compared to Rs 2,661 lakh in the previous quarter and Rs 3,032 lakh in the same quarter last year.
- Earnings per share (EPS) for the quarter were Rs 12.23, compared to Rs 10.90 in the previous quarter and Rs 12.41 in the same quarter last year.
2. Operational Highlights:
- The company's revenue from operations primarily consists of sales/income from the country liquor segment.
- The cost of materials consumed and employee benefits expenses were the major expenses for the quarter.
- The company reported an increase in other income and a decrease in finance costs for the quarter.
3. Cash Flow:
- The company generated net cash from operating activities of Rs 93,220.91 lakh for the quarter ended September 30, 2023, compared to Rs 1,84,923.31 lakh in the previous year.
- Cash and cash equivalents at the end of the period were Rs 4,910.15 lakh, compared to Rs 3,150.00 lakh at the end of the previous year.
4. Assets and Liabilities:
- Non-current assets, including property, plant and equipment, and investments, increased compared to the previous year.
- Current assets, including inventories and trade receivables, also increased compared to the previous year.
- Non-current liabilities, including deferred tax liabilities, remained consistent compared to the previous year.
- Current liabilities, including trade payables and provisions, increased compared to the previous year.
"We are pleased with the financial performance of the company for the quarter ended September 30, 2023. Despite the challenging economic conditions, we have been able to achieve growth in revenue and profitability. We remain focused on expanding our customer base and improving operational efficiency to drive further growth in the coming quarters" - Jimmy Almeida, Chairman & Managing Director
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