(Yicai Global) Oct. 26 -- Shares of Kweichow Moutai, the world's most valuable distiller, slumped to the lowest in more than two months after net profit increased less than expected in the third quarter.

The baijiu maker [SHA: 600519] fell as much as 6.8 percent in the morning to CNY1,600 (USD238.71), the lowest since Aug. 7, and ended the day 4.2 percent down at CNY1,643. But the stock is till up 39 percent this year.

Net profit rose 6 percent to CNY11.2 billion (USD1.7 billion) in the quarter ended September from a year ago, according to the Guizhou province-based company’s earnings report released late yesterday. The figure had jumped 17 percent in the first quarter. Third-quarter revenue rose 8 percent to CNY23.2 billion.

Kweichow Moutai's market cap of CNY2.15 trillion (USD321.5 billion) still exceeds that of the country's most valuable lender, Industrial and Commercial Bank of China. But it is not close to overtaking Alibaba Group Holding or Tencent Holdings, both of which lead by big margins, according to Wind data.

For the first nine months of this year, the company’s net profit rose 11 percent to CNY33.8 billion and a 10 percent gain in revenue to CNY67.2 billion. That indicates that sales were stronger in the first half than in the three months ended September.

This quarter may see a rebound as the National Day holiday and Mid-Autumn Festival tend to mark a high point for the liquor maker.

Editor: Emmi Laine