return to news
  1. Upstox
    /
  2. News
    /
  3. Market News
    /
  4. Stocks
    /
  5. Godfrey Phillips shares zoom 6.5% on jump in cigarette sale volumes in Q1

Market News

Godfrey Phillips shares zoom 6.5% on jump in cigarette sale volumes in Q1

Upstox
By Upstox News Desk

2 min read | Updated on August 09, 2024, 11:54 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

The company's overall revenue from cigarettes, tobacco and related products jumped 18.5% to ₹1,338.4 crore during the first quarter, as per the results declared on Thursday.

Stock list

GODFRYPHLP
--
The stock pared early gains to trade at ₹601.2 apiece, down 0.96%, on the BSE at 2:20 pm

Tata Power's stock was down around 1% in early trade on Wednesday

Shares of Godfrey Philips India, the flagship company of Modi Enterprises, rose 6.5% during the trading session on Friday, August 9, in the backdrop of the company's cigarette sales volume outperforming peers.

The cigarette sales volume climbed by 26.2% during the first quarter of fiscal year 2024-25 (Q1FY25), as compared to the last year, as per an investor presentation shared by the company on Thursday, August 8.

In comparison, ITC recorded a 2.5% year-on-year growth in cigarette volumes during the June 2024 quarter, whereas VST Industries faced a 5.5% decline in the same period, as per the numbers analysed by CNBC-TV18.

Notably, Godfrey Philips sells cigarettes under brands like Four Square, Red and White, Cavanders, Tipper and North Pole.

The company's overall revenue from cigarettes, tobacco and related products jumped 18.5% to ₹1,338.4 crore during the first quarter, as per the results declared on Thursday.

Also Read: ITC Q1 results: Consolidated net profit declines marginally to ₹5,177 crore; check key details

Q1 net profit drops

Godfrey Philip's consolidated net profit came in at ₹228.5 crore, down 10.17% from ₹254.4 crore in the year-ago period.

The company's revenue from retail and related products was declined 15% to ₹96 crore from ₹112.9 crore a year ago.

Earlier, in April this year, the company 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. Later, that order was vacated by the District Judge of Saket Court.

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

With PTI inputs
Uplearn

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Next Story