Globus Spirits drops as Q2 PAT tumbles 58% YoY

Globus Spirits slumped 8.78% to Rs 734.40 after the company's net profit declined 57.9% to Rs 22.1 crore on 25.7% jump in net revenue from operations to Rs 480.3 crore in Q2 FY23 over Q2 FY22.

Profit before tax fell 58.8% to Rs 31.6 crore in Q2 FY23 as compared to Rs 76.5 crore in Q2 FY22.

EBITDA declined 47.4% to Rs 47 crore in Q2 FY23 as against Rs 89.3 crore in Q2 FY22.

Total expense rose 47.9% YoY to Rs 435.4 crore in Q2 FY23. Cost of raw material consumed stood at Rs 282.9 crore (up 43.4% YoY) and employee expenses stood at Rs 13.7 crore (up 27.9% YoY). Finance cost up 5.1% to Rs 2.5 crore during the period under review.

Net cash generated from operating activities stood at Rs 6.29 crore in six months ended 30 September 2022 compared with Rs 137.87 crore in six months ended 30 September 2021.

Globus Spirits is primarily engaged in the business of manufacturing and sale of Indian Made Indian Liquor (IMIL), Indian Made Foreign Liquor (IMFL), Bulk Alcohol, Hand Sanitizer and Franchise Bottling.

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