Sula Vineyard shares surge nearly 2% after company reports positive Q2 business update

By Aditya Bhagchandani Published on October 12, 2023, 13:45 IST

Sula Vineyards’ shares experienced a significant surge on October 11, following a robust business update for the quarter ending September 30, 2023. The stock (SULA), rose by almost 4% during intraday trading, reaching its highest level of the day at Rs 485 on the NSE.

In the post-market announcement on Wednesday, Sula Vineyards, India’s inaugural publicly listed winemaker, revealed record-breaking second-quarter net revenues.

The company reported its “highest ever Q2 net revenues” encompassing both priority own brands and wine tourism businesses. Specifically, revenue from its own brand increased by 14 percent year-on-year, reaching Rs 116.2 crore for the period spanning July to September. Additionally, its wine tourism unit experienced a notable growth of 26 percent, reaching Rs 12.1 crore.

At 1:30 PM the shares of the company were trading 1.40% up at 473.10

Aditya Bhagchandani

Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.