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Mumbai: GM Breweries stock jumped 11.83% in the early morning trade on the BSE after the company reported a strong 157.36% year-on-year growth in its net profit at Rs 15.57 crore for the third quarter ended December 31, 2015. The company had reported a net profit of Rs 6.05 crore in the same quarter a year ago.
However, at 1144 hours, the stock of the company came down from its morning level and was trading at 5.45% or Rs 56.50 at Rs 1,094.00 on the BSE.
On Friday, the stock of the company opened at Rs 1,139.00 on the BSE, while its previous close was at Rs 1,037.50. The day’s high and low stood at Rs 1160.25 and Rs 1067.25, respectively on the stock exchange.
GM Breweries is engaged into the production and marketing of alcoholic beverages such as country liquor and Indian made foreign liquor.