G M Breweries tumbles on weak Q1 results

G M Breweries was down 5.61% to Rs 465.50 at 10:37 IST on the BSE after the company reported weak Q1 results after market hours yesterday, 4 July 2019.

Meanwhile, the S&P BSE Sensex was up by 15.22 points, or 0.04% to 39,923.28.

On the BSE, 11,000 shares were traded in the counter so far compared with average daily volumes of 4169 shares in the past two weeks. The stock had hit a high of Rs 489 so far during the day. It hit a 52-week high of Rs 922 on 5 July 2018. The stock has hit an intraday low of Rs 459.85, which also a 52-week low for the stock.

G M Breweries' net profit fell 26.7% to Rs 16.27 crore on a 7.5% rise in the net sales to Rs 118.63 crore in Q1 June 2019 over Q1 June 2018.

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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