Godfrey Phillips Shares Rally As Q3 Profit Jumps Nearly 50%
Godfrey Phillips' margin widened to 22.5% for the quarter ended December as compared to 18.2% for the same period last year.
Shares of Godfrey Phillips India Ltd. jumped over 6% on Friday, after it reported a 49% surge in its net profit in the third quarter of the current fiscal.
The company's revenue soared to Rs 1,591.3 crore, representing a 27% rise for the October-December 2024 quarter, as against Rs 1,249.7 crore for the year-ago period.
The tobacco maker's earnings before interest, tax, depreciation and amortisation grew to Rs 358.78 crore, denoting a 58% rise for the quarter under review from Rs 227.74 crore for the same period in the corresponding year.
Its margin widened to 22.5% for the quarter ended December, as compared to 18.2% for the same period last year.
The company, in December, approved the appointment of Siddharth Chawla as chief operating officer, effective Jan. 7, 2025.
The newly appointed COO started his career with FMCG major ITC Ltd., as a management trainee in 2001, and was made the business head for north India when he left in 2019.
Godfrey Phillips Share Price Today
Godfrey Phillips' share price rose as much as 10.01% to Rs 5,499.9 apiece in early trade. It was trading 6.7% higher at Rs 5,333 apiece as of 9:30 a.m., as compared to a 0.03% advance in the NSE Nifty 50.
The stock advanced 113.16% in 12 months. Total traded volume so far in the day stood at 0.22 times its 30-day average. The relative strength index was at 60.
One analyst tracking the company suggests 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential downside of 0.3%.
