Cigarette-making company Godfrey Phillips India Ltd on Saturday posted a 16.6 percent increase in its consolidated net profit at Rs 131.05 crore for the quarter ended June 30, 2022. In the last fiscal in the corresponding period, the company reported a net profit of Rs 112.40 crore.
Godfrey Phillips India’s revenue from operations saw a rise of 33.49 percent to Rs 981.83 crore in Q1FY23 compared with Rs 735.49 crore in the period last year.
The company’s total expenses increased 30.86 percent to Rs 825.61 crore in Q1 FY23 from Rs 630.90 crore last year.
Revenue generation from cigarettes, tobacco, and related products shot up 33.71 percent to Rs 877.19 crore as against Rs 656.02 crore a year ago.
Revenue from retail and related products in the quarter under review climbed 34.52 percent to Rs 104.50 crore from Rs 77.68 crore last year.
Appointments:
The board of Godfrey Phillips India gave go-ahead to the appointment of Bina Modi as Chairperson of the board to replace RA Shah, who decided to retire and not seek re-appointment.
Bina Modi, as of now, holds the position of Managing Director and CEO.
Subsidiary:
In a separate filing, Godfrey Phillips India announced that its board on Saturday approved the voluntary winding up of its Dubai-based wholly-owned subsidiary company Godfrey Phillips Middle East DMCC.