Pioneer Distilleries zooms 20% post Q4 results

The company reported a net profit of Rs 208 million in Q4FY18 against a net loss of Rs 112 million in year ago quarter.

Shares of Pioneer Distilleries were locked in upper circuit of 20% at Rs 264 per share, also their 52-week high on the BSE, after the company reported a net profit of Rs 208 million, on back of government grant of Rs 481 million for the quarter ended March 2018 (Q4F718). The company, a subsidiary of United Spirits, had a net loss of Rs 112 million in the same quarter year ago.

Operational revenues during the quarter rose 4.6% at Rs 362 million against Rs 346 million in the corresponding quarter of previous fiscal.

Pioneer Distilleries said it is entitled