Godfrey Phillips Q1 profit surges 68.61% to ₹220.97 crore

livemint.com:

Godfrey Phillips India Ltd on Wednesday said its net profit surged 68.61% to ₹220.97 crore for the first quarter of fiscal year 2023-24. It had recorded a net profit of ₹131.05 crore during the April-June period of the previous fiscal, Godfrey Phillips India said in a regulatory filing. Godfrey Phillips’ revenue from operations rose 26.84% to ₹1,245.39 crore during the June quarter as against ₹981.83 crore in the corresponding period of the previous fiscal.

Its total expenses were at ₹1,036.06 crore, up 25.5% in the first quarter of FY24. The cigarette maker reported a total income in the June quarter at ₹1,298.08 crore, up 31.9%. Revenue from cigarettes, tobacco and related products was ₹1,128.90 crore, up 28.7% during the April-June period.

While revenue from retail and related products was ₹112.95 crore, up 8.08%, as against ₹104.50 crore in the first quarter of last fiscal, it said. Godfrey Phillips also operates the convenience store chain 24Seven. Shares of Godfrey Phillips India Ltd on Wednesday closed at ₹1,724.55 on BSE, up 2.21% from the previous close.

In the March quarter of fiscal year 2023, Godfrey Phillips India Ltd reported an increase of 6.41% in its consolidated net profit to ₹110.54 crore. Revenue from operations was up 14.33% to ₹968.40 crore during the March quarter as against ₹846.95 crore in the corresponding period of the previous fiscal. Godfrey Phillips’ total expenses were at ₹869.01 crore, up 17.8% in Q4 of FY 23, as against ₹737.72 crore.