📈 Bonus Shares: Exciting News in the Stock Market 📈
📅 Date: 05 April 2024
The season of quarterly results in the stock market has begun, with listed companies announcing their fourth quarter results. GM Breweries Limited has also announced its fourth quarter results, showing positive growth in profits and earnings year on year. Additionally, the board of directors has approved interim dividends and bonus shares. Following the results, the shares are trading nearly 4% lower.
In a statement to the market, GM Breweries reported a profit of ₹84 crores between January and March, compared to ₹35 crores in the same quarter last year. The company’s revenue has also increased from ₹156 crores to ₹160 crores year on year. The operating profit for the March quarter reached ₹25 crores.
The company stated that the operating margin has decreased from 20% to 16% year on year, while the other income has increased from ₹15 crores to ₹71 crores. The board of directors approved bonus shares and interim dividends, offering shareholders 1 bonus share for every 4 shares held.
GM Breweries has approved interim dividends at ₹7 per share based on a face value of ₹10. Following the results, there was a sharp decline in share prices, trading around ₹755 on the BSE. The stock has seen a 10% increase in the past five days and a growth of over 22% in the last month.
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