Marketer and distributor of energy drinks and alternative beverages, Monster Beverage has said that it has recorded a 15.4 per cent rise in gross sales to $632.3 million during the third quarter of the year.

The company had recorded gross sales of $548.1 million in the same quarter of the previous year. The net sales during the quarter rose 14.2 per cent to $541.9 million compared to $474.7 million in the same quarter of the previous year.

The operating income of the company for the third quarter increased 6.5 per cent to $140.7 million compared to $132.1 million in the same quarter of 2011. Company's net income rose 4.6 per cent to $86.1 million from $82.4 million in the same quarter of the previous year.

Chairman and chief executive officer Rodney Sacks noted that the energy drink market in the US and Europe continued to expand and the company has been able to expand its position in the market.

"While the Company achieved less robust growth in sales dollars than in previous quarters, gross sales for the Company in October 2012 increased by approximately 28 percent over the same month last year," he said.