India's GM Breweries hits near five-week low on qtrly profit drop

G M Breweries

04/01/2024 07:14

** Shares of G M Breweries  GMBR.NS  fall as much as 7% to
656.20 rupees, their lowest level since Dec 1
    ** Co's Dec.-qtr  profit fell ~13% to 226 mln rupees ($2.71
mln) as expenses rose ~3% 
    ** GMBR's revenue grew a marginal 1.5%, its slowest growth
in three years 
    ** Stock sees most active day since Oct 10, when it had
fallen on Sept-qtr profit drop    
    ** GMBR had risen ~13% in 2023, after a ~23.5% slide in 2022


($1 = 83.2840 Indian rupees)

 (Reporting by Nishit Navin in Bengaluru)
 ((nishit.navin@thomsonreuters.com;))