Godfrey Phillips Q1 Profit Down 10.1% to Rs 228.5 Cr

New Delhi, Aug 7 (PTI) Cigarette maker Godfrey Phillips India Ltd on Wednesday reported a 10.17 per cent decline in its consolidated net profit to Rs 228.55 crore for the first quarter ended in June 2024.

The company had posted a net profit of Rs 254.44 crore during the April-June period a year ago, according to an exchange filing.

However, its revenue from operations was up 15.7 per cent to Rs 1,440.81 crore during the quarter under review. It was at Rs 1,245.39 crore in the corresponding period of the previous fiscal.

Total expenses of Godfrey Phillips in the June quarter increased 17.41 per cent at Rs 1,216.52 crore.

Revenue from cigarettes, tobacco and related products was up 18.55 per cent to Rs 1,338.40 crore in Q1 of FY25, Godfrey Phillips India, the flagship company of Modi Enterprises, said.

Revenue from retail and related products was down 15 per cent to Rs 96.01 crore from Rs 112.95 crore a year ago.

Godfrey Phillips operates the convenience store chain 24Seven.

Earlier, in April this year, Godfrey Phillips decided to exit its loss-making retail business 24Seven.

However, an interim injunction was passed against the move over a petition by one of its executive directors. However, that order was vacated by the District Judge of Saket Court.

"Now the company is taking necessary steps to close its retail business operation," the company said.

Godfrey Phillips India is the flagship company of Modi Enterprises. It makes popular cigarette brands like Four Square, Red and White, Cavanders, Tipper and North Pole.

It also manufactures and distributes brand Marlboro under a licence agreement with Philip Morris.

Shares of Godfrey Phillips India Ltd on Thursday settled at Rs 4,189.80 per share, up 2.97 per cent from the previous close.