Cigarette Company shares become rocket, rise over 15% in day trade; Know why
Godfrey Phillips rises by 15%
Godfrey Phillips: Shares of Godfrey Phillips rose 15.4% to Rs 1,990 in a single business day on Thursday. This boom in the company’s shares was seen after the cigarette maker declared its June quarter results.
The company reported a 68.6% year-on-year (YoY) increase in its consolidated net profit at Rs 220.97 crore for the first quarter ended in June 2023. It had earned a net profit of Rs 131.05 crore in the same quarter of the previous financial year.
Revenue hiked by 26.84%
Its revenue from operations grew 26.84% to Rs 1,245.39 crore during the quarter under review, as against Rs 981.83 crore in the same period last fiscal. Meanwhile, its total expenditure in the first quarter of FY 2023-24 stood at Rs 1,036.06 crore, up 25.5% year-on-year.
The company's total income for the June quarter stood at Rs 1,298.08 crore, up 31.9% year-on-year. Godfrey Phillips' revenue from cigarettes, tobacco and related products stood at Rs 1,128.90 crore during the April-June period, up by 28.7% year-on-year.
Meanwhile, the revenue from retail and related products grew by 8.08% to Rs 112.95 crore as against Rs 104.50 crore in the first quarter of the previous fiscal.
Godfrey Phillips shares
On a year-to-date basis, the stock has declined over 4%, while it has gained over 74% in the last year. The company’s shares have gained 130.03% in the last five years.
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