Revenue from operations (excluding excise duty) grew by 6.84% year on year to Rs 151.57 crore in the quarter ended 30 September 2023.

As compared to Q1 FY24, the company's net profit increased by 12.36% while revenue rose 3.21% in Q2 FY24.

Profit before tax stood at Rs 29.47 crore in the quarter ended 30 September 2023, down 2.80% as against Rs 30.32 crore recorded in Q2 FY23.

Total expenses rose 6.33% YoY to Rs 566.29 crore during the quarter. Cost of material consumed was at Rs 112.08 crore (up 10.95% YoY) and employee benefits expenses stood at Rs 2.55 crore (up 0.79% YoY) in Q2 FY24.

On half-year basis, the company's net profit rose 8.86% to Rs 42.28 crore on 5.13% increase in revenue to Rs 298.43 crore in H1 FY24 over H1 FY23.

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.