Godfrey Phillips India Ltd, a leading cigarette manufacturer, has reported a notable increase of 46.25 percent in its consolidated net profit, amounting to INR 215.12 crore for the fourth quarter ended March 2024. This contrasts with the INR 147.09 crore net profit recorded during the January-March period of the previous fiscal year, according to a regulatory filing from Godfrey Phillips India.
During the quarter under review, its operational revenue saw a notable uptick of 22.86 percent, reaching INR 1,197.13 crore, compared to INR 974.40 crore in the corresponding period of the previous fiscal year.
In the March quarter, Godfrey Phillips witnessed a 21.13 percent increase in total expenses, totaling INR 1,052.66 crore.
Segment-wise Revenue Breakdown
Revenue from cigarettes, tobacco, and associated products experienced a 22.81 percent surge, amounting to INR 1,073.56 crore in the fourth quarter of FY24.
Revenue from retail and associated products stayed steady at INR 101.42 crore, mirroring the figure of INR 100.98 crore from a year prior.
Godfrey Phillips manages the convenience store chain known as 24Seven.
Continue Exploring: Godfrey Phillips explores sale of 24Seven grocery chain to major retail players
In the March quarter, the total income of Godfrey Phillips India surged by 24.06 percent, reaching INR 1,263.50 crore.
In the financial year that ended on March 31, 2024, Godfrey Phillips saw a 28.03 percent increase in net profit, totaling INR 883.97 crore, compared to INR 690.43 crore in the preceding year.
In FY24, its operational revenue reached INR 5,304.61 crore, marking a 24.53 percent increase from INR 4,259.83 crore the previous year.
In a separate filing, Godfrey Phillips announced that its board, in a meeting held on Thursday, recommended a final dividend of INR 56 per equity share of INR 2 each for the financial year ending March 31, 2024.
In April of this year, Godfrey Phillips made the decision to divest from its unprofitable retail venture, 24Seven. As the flagship company of Modi Enterprises, Godfrey Phillips India manufactures renowned cigarette brands such as Four Square, Red and White, Cavanders, Tipper, and North Pole.
Under a license agreement with Philip Morris, Godfrey Phillips also produces and distributes the Marlboro brand.
On Thursday, shares of Godfrey Phillips India Ltd concluded at INR 3,834.25, marking a decrease of 0.43 percent from the previous closing price.
Continue Exploring: Godfrey Phillips India to shut down 24Seven retail chain citing financial struggles