Godfrey Phillips India Q2 Net Profit Up 23% | Rs 248.31 cr

New Delhi, Nov 11 (PTI) Cigarette maker Godfrey Phillips India Ltd on Monday reported a 23 per cent rise in consolidated net profit to Rs 248.31 crore in the second quarter ended September 30, 2024, fuelled by higher sales.

The company posted a consolidated net profit of Rs 202.06 crore in the same quarter last fiscal, Godfrey Phillips India Ltd (GPIL) said in a regulatory filing.

Consolidated total revenue from operations stood at Rs 1,651.42 crore in the quarter under review compared to Rs 1,374.55 crore in the year-ago period.

Total expenses in the second quarter were higher at Rs 1,415.89 crore against Rs 1,194.03 crore a year ago.

Revenue from cigarettes, tobacco and related products in the second quarter stood at Rs 1,610.06 crore compared to Rs 1,258.48 crore in the corresponding period last fiscal, the company said.

On the other hand, revenue from retail and related products was lower at Rs 38.79 crore over Rs 117.26 crore in the same period last fiscal, it added.

The company's board had on April 12, 2024, approved exiting from carrying out the retail business division operated under 24Seven, subject to completion of the necessary formalities. In July this year, the company stated that it was going ahead with plans to exit from the retail business following the setting aside of an interim injunction on the move by a district court in the capital.