India's GM Breweries winning run at threat as Q4 profit drops

G M Breweries

06/04/2023 09:23

** Shares of GM Breweries Ltd  GMBR.NS  fall 2.3% in heavy
volume, set to snap a four-session winning run
    ** Alcohol maker reports March-qtr profit fell 12.4% y/y,
hurt by an increase in total expenses
    ** Total revenue from operations rises 11.4%
    ** Stock again fall below its 100-, and 200-day moving avgs,
after reclaiming those levels on Weds after 3 weeks
    ** Trading vol is 10.5x the 30-day avg and stock's busiest
day since Jan 12, when it reported Q3 results 
    ** Up to last close, stock was down 6.3% so far this year
 
 ($1 = 81.9150 Indian rupees)

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))