Godfrey Phillips India Share Price Hits Record High After Q1 Profit Rises 56%

Godfrey Phillips India Ltd. share price hit a record high in Tuesday's session as the company's net profit increased during April–June period. Its consolidated net profit rose 56% on the year to Rs 356 crore.

Godfrey Phillips India's revenue advanced 36.5% on the year to Rs 1,486 crore during first quarter of the current financial year. Its topline advanced 25.1% on the year to Rs 338 crore in the first quarter compared to 270 crore. Its profit margin advanced 210 basis points to 22.7% in April–June compared to the corresponding period of the previous financial year.

During the quarter, Godfrey Phillips India saw its employee cost advanced 42% and cost of raw materials increased 45%.

Godfrey Phillips India Ltd. share price advanced 10% to a record high of Rs 9,881.50 apiece. The share price was trading 9.16% higher at Rs 9,830 apiece as of 9:42 a.m., as compared to 0.36% decline in the NSE Nifty 50 index.

The scrip has been rising for second day in a row. It has advanced 146.50% in 12 months, and 87.94% on year-to-date basis. Total traded volume so far in the day stood at 15 times its 30-day average. The relative strength index was at 62.89.

One analysts tracking the company suggest 'sell', according to Bloomberg data.