Godfrey Phillips India Q3 net profit up 8.09% to Rs 123.10 cr

Cigarette maker Godfrey Phillips India Ltd on Saturday reported an 8.09 per cent increase in its consolidated net profit to Rs 123.10 crore for the third quarter ended in December 2020.

The company had posted a net profit of Rs 113.89 crore during the October-December quarter of the previous fiscal, Godfrey Phillips India said in a regulatory filing.

Its revenue from operations was up 5.42 per cent to Rs 840.42 crore during the quarter under review as against Rs 797.22 crore in the corresponding period of the previous fiscal.

Godfrey Phillips’ total expenses were at Rs 714.53 crore in the third quarter of 2020-21, up 5.96 per cent as against Rs 674.33 crore.

Its revenue from cigarettes, tobacco and related products was at Rs 752.66 crore, up 7.18 per cent compared to Rs 702.24 crore a year ago.

While revenue from retail and related products was down 14.1 per cent to Rs 80.17 crore as against Rs 93.36 crore in the third quarter last fiscal, it said.

Meanwhile, in a separate filing, Godfrey Phillips India informed that its board in a meeting held on Friday approved the voluntary winding up of its wholly-owned subsidiary Flavors & More Inc. based in the US.

“The procedural formalities relating to voluntary winding up of the subsidiary will be done in due course of time,” it said.

The board has also approved the appointment of Sumant Bharadwaj as an Additional Director to serve as an Independent Director of the company.