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G M Breweries says closure of liquor outlets may impact April sales

Capital Market 

The liquor maker informed that closure of liquor stores across Maharashtra may impact the company's sales during April 2021.

With a view to contain the resurging coronavirus, the state government of Maharashtra has ordered the closure of all shops selling non-essential commodities, including liquor outlets, throughout the state till 30 April 2021.

Even though the manufacturing plant of G M Breweries is operational, the closure of retail outlets is likely to have some impact on the sales of the company during the month of April 2021, it said.

It added that trade bodies have made a representation to the government to permit sale of country liquor online, door delivery and parcel. A decision in this regard is expected soon.

Hence, the exact impact on the sales due to current scenario cannot be ascertained at this juncture, the company said.

G M Breweries' net profit surged 155.3% to Rs 45.34 crore in Q4 FY21 from Rs 17.76 crore in Q4 FY20. Net sales during the quarter rose 17.2% year-on-year (Y-o-Y) to Rs 127.70 crore.

G M Breweries is engaged in manufacturing and marketing of country liquor.

Shares of G M Breweries gained 0.29% to Rs 408.80 on BSE. The stock hit an intraday high of Rs 414.35 and an intraday low of Rs 405.60 so far.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, April 16 2021. 12:14 IST
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