Impacted by foreign exchange loss, cigarette maker Godfrey Phillips India Ltd (GPI) today posted 37.24% decline in its net profit for the quarter ended September 30, 2011 at Rs 31.02 crore compared to the corresponding quarter last fiscal.
The company's net profit for the three months ended September 30, 2010 was Rs 49.43 crore, it said in a filing to the BSE.
GPI's net sales for the quarter ended September 30, 2011 grew 12.62% to Rs 419.51 crore, as against Rs 369.47 crore in the same quarter of last fiscal.
"Exchange loss amounting to Rs 28.95 crore arising from restatement of outstanding foreign currency loans at the prevailing rate of exchange has been recognised in the profit and loss account for the period," the filing said.
The company's cigarette portfolio includes a host of brands such as Four Square, Red and White, Jaisalmer and Cavanders.
The firm's scrips closed at Rs 3,356.40 per share, down 2.45% from the previous close on the BSE.
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