Shares of Globus Spirits slipped nearly 10 percent on Tuesday after the company reported that its EBITDA and net profit fell by over a third each compared to the previous quarter.
Operating profit during the quarter nearly halved to Rs 47 crore from Rs 89.3 crore last year. The same is the case with the company's net profit, which declined nearly 60 percent year-on-year.
The company attributed lower margins and profits to higher costs in both input and fuel.
Overall revenue growth during the quarter stood at 7 percent year-on-year. However, they declined 7 percent compared to the June quarter.
The stock is currently trading at Rs 732, down 9.16 percent.
(Edited by : Rukmani Krishna)
First Published: Nov 15, 2022 1:34 PM IST
