Globus Spirits shares jump 20% as Q4 profit beats expectations

Globus Spirits shares surged 20 per cent on Thursday after the company announced better-than-expected fourth quarter numbers on Wednesday.

The company is engaged in the business of manufacture, marketing and selling of industrial alcohol (comprising RS and ENA) and IMFL.

For the quarter ended March 2015, it registered net profit of Rs 3.57 crore, up 157.54 per cent, against net loss of Rs 6.20 crore in the corresponding quarter a year ago. Gross sales of the company jumped 34.56 per cent year-on-year (yoy) to Rs 228.94 at the end of the quarter under review.

Operating profit of the company grew 104.54 per cent yoy to Rs 17.12 crore.

Shares of Globus Spirits closed the day at Rs 60.45.