Cigarette maker Godfrey Phillips India Ltd on Thursday reported an increase of 46.25% in its consolidated net profit to Rs 215.12 crore for the fourth quarter ended March 2024. The company had posted a net profit of Rs 147.09 crore during the January-March period of the previous fiscal, according to a regulatory filing from Godfrey Phillips India.
Its revenue from operations increased 22.86% to Rs 1,197.13 crore during the quarter under review, up from Rs 974.40 crore in the corresponding period of the previous fiscal.
Total expenses of Godfrey Phillips in the March quarter were up 21.13% at Rs 1,052.66 crore.
Its revenue from cigarettes, tobacco and related products was up 22.81% to Rs 1,073.56 crore in Q4 of FY24.
Revenue from retail and related products remained flat at Rs 101.42 crore, compared to Rs 100.98 crore a year ago.
Godfrey Phillips operates the convenience store chain 24Seven.
Total income of Godfrey Phillips India was up 24.06% to Rs 1,263.50 crore in the March quarter.
For the financial year that ended on March 31, 2024, Godfrey Phillips's net profit was up 28.03% to Rs 883.97 crore, as against Rs 690.43 crore a year ago.
Its revenue from operation in FY24 was at Rs 5,304.61 crore, up 24.53% as against Rs 4,259.83 crore a year before.
Meanwhile, in a separate filing, Godfrey Phillips said its board in a meeting held on Thursday recommended a final dividend of Rs 56 per equity share of Rs 2 each for the financial year ended 31st March 2024.
Earlier, in April this year, Godfrey Phillips had decided to exit from its loss-making retail business 24Seven. 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 license agreement with Philip Morris.
Shares of Godfrey Phillips India Ltd on Thursday settled at Rs 3,834.25, down 0.43% from the previous close.
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