GM Breweries hits 52-week low on weak June quarter earnings

The company reported a 27 per cent decline in net profit at Rs 16 crore in the first quarter of fiscal 2019-20, due to higher raw material cost.

Shares of GM Breweries hit a 52-week low of Rs 455, down 8 per cent, in Friday's early morning trade on the National Stock Exchange (NSE), after the company reported a 27 per cent decline in net profit at Rs 16 crore in the first quarter of fiscal 2019-20 (FY20), due to higher raw material cost.

The company engaged in breweries & distilleries had posted a profit of Rs 22 crore in June 2018 quarter.

Operational revenue grew 6 per cent at Rs 430 crore against Rs 404 crore in the corresponding quarter of previous fiscal. Ebitda (earnings