Sequentially, the company's net profit rose 14.69% and revenue increased by 8.32% in Q3 FY23.

The company's profit before tax stood at Rs 34.64 crore in quarter ended 31 December 2022, registering a growth of 31.01% as against Rs 26.44 crore recorded in Q3 FY22.

Total expenses advanced 18.21% year on year to Rs 577.49 crore in Q3 FY23. Cost of material consumed was at Rs 109.50 crore (up 14.84% YoY) and employee benefits expenses stood at Rs 2.75 crore (up 21.68% YoY), during the quarter.

G M Breweries is engaged in the activities of manufacturing and marketing of alcoholic beverages such as country liquor (CL) and Indian made foreign liquor (IMFL). The company is the largest manufacturer of country liquor in the state of Maharashtra with a sizeable market share.

Shares of G M Breweries were up 0.26% to Rs 600.15 on the BSE.