Globus Spirits nears 52-week high post Q1 nos; stock up 91% so far in FY21

Shares of Globus Spirits were locked in the 5 per cent upper circuit at Rs 169.25 after the liquor-maker reported strong set of June quarter numbers. The company's consolidated net profit jumped 161.4 per cent to Rs 18.72 crore during the quarter under review, compared to Rs 7.16 crore profit in the year-ago period.

Profit before tax, meanwhile, came in at Rs 25.53 crore, up from Rs 12.37 crore reported in June quarter of FY20. Sequentially, it increased marginally from Rs 22.21 crore logged in Q4FY20. Revenue from operations, however, slipped to Rs 291.98 crore from Rs 314.65 crore in the year-ago quarter.  

"The Group has made an assessment of impact of the Covid-19 pandemic on going concern, and believes that the impact will be temporary. The assessment is based on budgets and financial projections, considering the nature of products and considering the impact of consumer consumption trend seen immediately in the demand outlook and the financial strength of the company," the company said in a statement.

The stock was near its 52-week high of Rs 170, touched on August 13, 2020. So far in the financial year 2020-21, the stock price of the company has leaped 91 per cent on the BSE. In comparison, the S&P BSE Sensex has gained around 32 per cent till Monday.