GM Breweries is oscillating between the green and the red, on the back of its flat performance for Q4FY19.

The company posted a 4% (YoY) rise in net sales at Rs.438 crore and net profit was down 1.5% at Rs.24 crore. EBITDA was down 16% at Rs.28 crore and margins fell from 7.91% to 6.38%. The 6% rise in total expenses, on account of higher raw material prices and higher excise duty, VAT and TCS outgo.

It ended the year with a net profit of Rs.83 crore, up 13% on a 6% growth in net sales at Rs.1705 crore.

The market has probably decided to concentrate on the full year show, which is why the stock price rose over 2% to an intra day high at Rs.620. The dividend of Rs.3/share has also helped. Dividend yield stands at 0.4%.