GM Breweries drops on weak Q3 results

GM Breweries dropped 2.9% to Rs 496.10 at 9:50 IST on BSE after net profit fell 36.41% to Rs 9.90 crore on 4.96% rise in total income to Rs 97.55 crore in Q3 December 2016 over Q3 December 2015.

The result was announced after market hours yesterday, 5 January 2017.

Meanwhile, the S&P BSE Sensex was up 83.95 points or 0.31% at 26,962.19.

On the BSE, 5,639 shares were traded in the counter so far as against average daily volume of 15,805 shares in the past one quarter. The stock had hit a high of Rs 500 and a low of Rs 481 so far during the day. The stock had hit record high of Rs 928.20 on 8 January 2016. The stock had hit a 52-week low of Rs 430 on 9 November 2016.

The stock had underperformed the market over the past one month till 5 January 2017, dropping 1.71% compared with the Sensex's 2.01% rise. The scrip had also underperformed the market in past one quarter, declining 21.78% as against the Sensex's 4.76% fall.

The mid-cap company has equity capital of Rs 14.62 crore. Face value per share is Rs 10.

GM Breweries is engaged in manufacturing and marketing of alcoholic beverages such as country liquor (CL) and Indian made foreign liquor (IMFL).

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