Globus has 'spirited' rise

Globus Spirits, which had closed yesterday at Rs.161.20, opened today morning at its 5% UC of the day at Rs.169.25 and remains locked there, with over 73k pending buy orders on the counter.

The company posted a huge 161% (YoY) jump in consolidated net profit for Q1FY21 at Rs.19 crore. This was despite a 7% fall in total income at Rs.292 crore.

A 11% drop in total expenses helped shore up the bottomline though the almost 3.5 times jump in excise duty was pretty steep.

The company also stated that the impact of Covid-19 is likely to be short-term in nature.