G M Breweries firms up Q2 earnings

G M Breweries rose 1.92% to Rs 382.70 after net profit rose 2.2% to Rs 19.85 crore on 8.7% increase in net sales to Rs 121.40 crore in Q2 September 2019 over Q2 September 2018.

The result was announced after market hours yesterday, 10 October 2019.

The company's Profit Before Tax (PBT) fell 7.07% to Rs 23.25 crore in Q2 September 2019 over Q1 June 2019. The drop in PBT during the current quarter in comparison to the immediate preceding quarter could mainly be attributed to unprecedented rise in the cost of company's raw material namely rectified spirit. The net impact on account of increase in the average price of the rectified spirit was approximately Rs 6.52 crore, the firm said.

Meanwhile, the S&P BSE Sensex was up 286.59 points or 0.76% to 38,166.99.

On the BSE, 4,284 shares were traded in the counter so far compared with average daily volumes of 32,310 shares in the past two weeks. The stock hit a high of Rs 398 and a low of Rs 376.45 so far during the day.

The stock hit a 52-week high of Rs 777.85 on 02 Jan 2019. The stock hit a 52-week low of Rs 335.2 on 23 Aug 2019.

G M Breweries is engaged in the activities of manufacturing and marketing of alcoholic beverages; such as country liquor (CL) and Indian made foreign liquor (IMFL).

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