Cigarette maker Godfrey Phillips India Ltd announced a 46.25% increase in its consolidated net profit for the fourth quarter ending March 2024. The net profit rose to Rs 215.12 crore, up from Rs 147.09 crore in the same period last year.
The company’s revenue from operations also saw a significant boost, climbing 22.86% to Rs 1,197.13 crore, compared to Rs 974.40 crore in the corresponding quarter of the previous fiscal year. Total expenses for the quarter increased by 21.13% to Rs 1,052.66 crore.
Revenue from cigarettes, tobacco, and related products grew by 22.81%, reaching Rs 1,073.56 crore. In contrast, revenue from retail and related products remained flat at Rs 101.42 crore.
Godfrey Phillips operates the convenience store chain 24Seven and has decided to exit this loss-making retail business. The company is known for popular cigarette brands like Four Square, Red and White, Cavanders, Tipper, and North Pole. It also manufactures and distributes Marlboro under a license agreement with Philip Morris.
For the financial year ending March 31, 2024, Godfrey Phillips reported a 28.03% increase in net profit, reaching Rs 883.97 crore, up from Rs 690.43 crore the previous year. Revenue from operations for the year stood at Rs 5,304.61 crore, marking a 24.53% rise from Rs 4,259.83 crore in FY23.
The board has recommended a final dividend of Rs 56 per equity share for the financial year ending March 31, 2024.
