Shares of Globus Spirits Ltd declined 11% on November 12 as the spirits firm reported 88% drop in standalone net profit at Rs 1.5 crore for the quarter ended September 30, 2024. It reported standalone net profit of Rs 13 crore in the year-ago period.
However, the company's standalone revenue from operations rose 18% to Rs 875 crore in Q2FY25 as compared to Rs 739 crore in Q2FY24.
On November 12, Globus Spirits shares closed trading 11% lower at Rs 950 apiece.
"Delhi dispatches have been affected in Q2 due to transition in new portal by Delhi excise. It is stable since October and business has bounced back. Faced packing costs pressure in H1FY25, working on easing them in H2FY25," said the company in a stock exchange filing.
Globus Spirits said its plans for Uttar Pradesh project include commissioning bottling lines for various premium brands with an 80 KLPD (kilo liters per day) facility expected to be completed by H2FY26.
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