Globus Spirits' stock price down by more than 8% today

15 Nov 2022 , 01:45 PM

Globus Spirits shares fell 13% to a new 52-week low of Rs 700 on the BSE in intraday trade on Tuesday after the business reported a dismal set of data for the quarter ended September (Q2FY23). The breweries and distilleries company’s stock has dropped below its historic low of Rs 766.05, set on October 26, 2022. It has fallen 59% in the last ten months from a high of Rs 1,720. On January 14, 2022, it reached a record high of Rs 1,760.

Globus Spirits’ profit after tax fell 57.9% year on year (YoY) and 40.7% quarter on quarter (QoQ) to Rs 22.10 crore in Q2FY23 due to increasing operational expenditures. Net revenue from operations, on the other hand, was up 25.7% year on year and down 3.7% quarter on quarter at Rs 480 crore. Earnings before interest, taxes, depreciation, and amortization (ebitda) at Rs 47 crore were down 47.4% year on year and 33.2 % quarter on quarter. The EBITDA margin was roughly 10%, down from 23% in Q2FY22 and 14% in Q1FY23.

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