GM Breweries soars 20% post stellar Q3 earnings; other liquor stocks follow suit
GM Breweries shares were locked at 20 percent upper circuit at Rs 1,172.60 on Friday after its stellar earnings for September-December quarter.
There were pending buy orders of 24,805 shares, with no sellers available on the BSE, at 14:52 hours IST.
Other liquor stocks like United Spirits, Pincon Spirit, Radico Khaitan etc also gained 4-10 percent.
GM Breweries said net profit shot up 122 percent to Rs 22 crore for quarter ended December 2017, compared with Rs 9.9 crore in year-ago.
Gross sales during the quarter increased 24 percent to Rs 434 crore and net sales jumped 21 percent to Rs 119 crore versus Rs 97 crore YoY.
EBITDA (earnings before interest, tax, depreciation and amortisation) surged 113 percent year-on-year to Rs 34 crore and margin expanded by 1,300 basis points to 29 percent for the quarter ended December 2017.