GM Breweries Q3 Results: Stock falls over 5% despite 90% profit growth, margin expansion

GM Breweries Ltd shares surged as much as 5.5% on Tuesday, January 6, in response to its quarterly results for the October-December period.

After surging over 4%, GM Breweries' stock gave up the gains, and is now experiencing volatility.

The liquor manufacturer's net profit increased by 91% from the same quarter last year, rising to ₹42 crore from ₹22 crore.

GM Breweries reported a 22% growth in its topline for the December quarter to ₹202.5 crore. The company had reported revenue of ₹165.9 crore during the same quarter last year.

Its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased by 80% on a year-on-year basis to ₹53 crore from ₹30 crore in the year-ago period.

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EBITDA margins expanded by over 800 basis points during the quarter to 26.1% from 17.8% in the third quarter.

GM Breweries is one of the largest players in India's country liquor market.

Stock Price Reaction

Share of GM Breweries are currently trading 5.4% higher at ₹1,315 after the earnings announcement. The stock has gained in five out of the last six trading sessions. The stock had gained 48% in 2025, marking the third straight year of positive returns for the stock.

The company's stock gained 70% in the last six months and made a 52-week high of ₹1,328 in today's session. Before today's session, shares of GM Breweries had surged nearly 30% in the nine trading sessions.