GM Breweries trips on weak results

The stock of GM Breweries dipped close to 12 per cent on Friday as the company announced its Q3 FY19 results. 

GM Breweries posted a 25 per cent drop in PAT. The company Q3 profit was at Rs. 16.71 crore compared to Rs. 22.30 crore in the corresponding quarter last year. Its total revenues for the quarter was at Rs. 448.89 crore compared to Rs. 433.85 crore in the corresponding quarter last year, an increase of 3.46 per cent. Meanwhile, the company's expense was at Rs. 425.54 crore compared to Rs. 401.04 crore a year ago. 

On Friday, at 14:05 hours the stock of GM Breweries Limited was at Rs. 639.75 per share, down by Rs. 84.55 or 11.64 per cent on BSE. The stock opened at Rs. 681.05 per share, which is also its intraday high and its intraday low was Rs. 630.00 per share.

Meanwhile, in the post-lunch session, the benchmark indices were trading in green. The BSE Sensex was at 35,551.15, up by +37.44 or 0.11 per cent, while the Nifty50 was at 10,662.15, down by 10.10 points or 0.09 per cent on Friday.