GM Breweries extends rally on robust Q2 results

Thus far in 2015, the stock zoomed 511% from Rs 90 to Rs 550 compared to 0.17% decline in Sensex.

GM Breweries is trading higher by 4.5% at Rs 548, extending its past three days 16% rally on the BSE, after the company reported an over four-fold jump in net profit at Rs 9.43 crore for the quarter ended September 30, 2015 (Q2), on back of strong net sales. The company had profit of Rs 2.33 crore in a year ago quarter.

Net sales of the company during the quarter rose by 25% at Rs 93.78 crore against Rs 75.08 crore in the corresponding quarter of previous year.

The company has surpassed its entire previous fiscal net profit of Rs 18.63 crore during first half of current fiscal. It recorded profit of Rs 25.32 crore in first half (April – September 2015) against Rs 6.89 crore during the same period last fiscal.

GM Breweries markets its products -- brandy, rum and whisky -- under brand names Pioneer Doctor Brandy, Pioneer Special Doctor Brandy, Hot Shot Rum and Reporter Choice Whisky.

The stock hit a record high of Rs 550 on the BSE during intra-day trade. Thus far in 2015, it zoomed 511% from Rs 90 on December 31, 2014 compared to 0.17% decline in Sensex.