 "GM Breweries zooms over 70% in one week on strong Q1 results")
Shares of GM Breweries surged by 10% to Rs 277, extending their past four days rally on the BSE, after the company reported a robust set of numbers for the first quarter ended June 30, 2015 (Q1).
The stock is currently trading at its new lifetime high, having zoomed 74% in the past one week from Rs 159 on July 21, 2015 compared to a 2.2% decline in S&P BSE Sensex.
The breweries and distilleries maker had reported an over three-fold jump in standalone net profit at Rs 15.89 crore for the quarter ended June 30, 2015 (Q1), due to lower raw material costs. It had posted a profit of Rs 4.56 crore in the same quarter a year ago and Rs 18.63 crore in the entire previous financial year 2014-15.
Net sales of the company during the quarter under review grew 7% at Rs 81 crore against Rs 76 crore in the corresponding quarter of previous fiscal.
The company markets its products -- brandy, rum and whisky -- under brand names Pioneer Doctor Brandy, Pioneer Special Doctor Brandy, Hot Shot Rum and Reporter Choice Whisky.
At 10:15 hours, the stock was up 8% at Rs 273 on the BSE. A combined 672,657 shares have already changed hands on the counter against an average sub one million shares that were traded daily in the past two weeks on the BSE and NSE.
The stock is currently trading at its new lifetime high, having zoomed 74% in the past one week from Rs 159 on July 21, 2015 compared to a 2.2% decline in S&P BSE Sensex.
The breweries and distilleries maker had reported an over three-fold jump in standalone net profit at Rs 15.89 crore for the quarter ended June 30, 2015 (Q1), due to lower raw material costs. It had posted a profit of Rs 4.56 crore in the same quarter a year ago and Rs 18.63 crore in the entire previous financial year 2014-15.
Net sales of the company during the quarter under review grew 7% at Rs 81 crore against Rs 76 crore in the corresponding quarter of previous fiscal.
The company markets its products -- brandy, rum and whisky -- under brand names Pioneer Doctor Brandy, Pioneer Special Doctor Brandy, Hot Shot Rum and Reporter Choice Whisky.
At 10:15 hours, the stock was up 8% at Rs 273 on the BSE. A combined 672,657 shares have already changed hands on the counter against an average sub one million shares that were traded daily in the past two weeks on the BSE and NSE.
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