Shares of GM Breweries tanked over 4 percent in afternoon trade on April 4 after the company reported a sharp decline in its EBITDA margin for the fourth quarter of FY24.
At 12.33pm, shares of GM Breweries were trading at Rs 262 on the NSE.
The company's operating margin in the January-March quarter contracted to 15.8 percent, sharply down from 20.1 percent a year ago. The drag on the company's operational performance was on account of higher expenses related to changes in inventories.
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The company's net profit for the quarter came at Rs 86.6 crore, up from Rs 35.1 crore a year ago and revenue rose a marginal 2.1 percent on-year to Rs 159.20 crore, as against Rs 155.90 crore a year ago.
The company's board also recommended an issue of bonus shares in the ratio of 1:4. For the bonus issue, the company will use Rs 4.56 crore from its free cash reserves, which will leave Rs 804.03 crore in its kitty. A dividend of Rs 7 per share was also approved by the board.
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