Monster Beverage Corporation (MNST) has reported 9.78 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $191.64 million, or $0.99 a share in the quarter, compared with $174.57 million, or $0.84 a share for the same period last year.

Revenue during the quarter grew 4.14 percent to $787.95 million from $756.62 million in the previous year period. Gross margin for the quarter expanded 231 basis points over the previous year period to 63.83 percent. Total expenses were 63.15 percent of quarterly revenues, up from 61.48 percent for the same period last year. That has resulted in a contraction of 167 basis points in operating margin to 36.85 percent.

Operating income for the quarter was $290.38 million, compared with $291.44 million in the previous year period.

Rodney C. Sacks, chairman and chief executive officer, said: "We are pleased to report continued progress on the implementation of our strategic alignment with Coca-Cola bottlers internationally. We transitioned to Coca-Cola bottlers in Chile, Colombia, Mexico, South Africa and certain other countries in Africa during the quarter. We commenced the launch of Monster Energy® drinks in China beginning with Beijing in September and Shanghai and Hunan Province in October."

Cash conversion cycle (CCC) has decreased to 24 days for the quarter from 33 days for the last year period. Days sales outstanding went up to 56 days for the quarter compared with 48 days for the same period last year.

Days inventory outstanding has decreased to 27 days for the quarter compared with 54 days for the previous year period. At the same time, days payable outstanding went down to 59 days for the quarter from 68 for the same period last year.