Sula Vineyards Hits All-Time High On Record Quarterly Gross Billings In Q3

Shares of Sula Vineyards Ltd. hit an all-time high after the winemaker posted "record" gains in gross billings in the third quarter.

In the December quarter, the company's brand sales were up 13% year-on-year to Rs 187.2 crore, aided by strong growth in volumes as well as realisations, according to a stock exchange filing. Whereas, the wine tourism business also grew 13% on year at Rs 23 crore.

"With our new 2.5 million litre cellar up and running in time for the 2023 grape harvest—which is looking excellent in terms of quantity and quality—we are poised to continue our growth story and leadership in the Indian wine industry," Chief Executive Officer Rajeev Samant said.

Shares of the company jumped as much as 19.24% to a record high of Rs 388 during the day.

The scrip closed 14.69% higher on Monday, while the benchmark Nifty 50 declined 0.34%.