Shares of Globus Spirits Ltd dropped by 11% on November 12 after the company reported a big fall of 88% in standalone net profit, down to Rs 1.5 crore for the quarter ending September 30, 2024. This is a sharp drop compared to its profit of Rs 13 crore in the same period last year.
However, the company’s standalone revenue from operations rose by 18%, reaching Rs 875 crore in Q2FY25, compared to Rs 739 crore in Q2FY24.
On November 12, Globus Spirits shares closed 11% lower at Rs 950 each.
“Dispatches in Delhi were affected in Q2 due to changes in the Delhi excise portal. Business has been stable since October. We faced higher packing costs in the first half of FY25 and are working on controlling them in the next half,” the company said in a filing.
Globus Spirits is also moving forward with plans for its project in Uttar Pradesh, which will include new bottling lines for premium brands. A production unit with an 80 KLPD capacity is expected to be ready by the second half of FY26.
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Source: Moneycontrol
News Desk
