Godfrey Phillips gallops after blockbuster Q1 outcome

Godfrey Phillips India jumped 10.22% to Rs 2,901.60 at 09:50 IST on BSE, after net profit jumped 243.42% to Rs 80.19 crore on 13.63% rise in total income from operations to Rs 698.84 crore in Q1 June 2014 over Q1 June 2013.

The result was announced on Saturday, 2 August 2014.

Meanwhile, BSE Sensex was up 97.82 points or 0.38% to 25,578.66

On BSE, so far 4,996 shares were traded in the counter. The stock had an average daily volume of 1,034 shares in the past one quarter.

The stock hit a high of Rs 3,076.50 and low of Rs 2,891 so far during the day. The stock hit 52-week high of Rs 3,660.60 on 19 February 2014. The stock had hit a 52-week low of Rs 2,500 on 25 November 2013.

The company's current equity is Rs 10.40 crore. Face value per share is Rs 10.

Godfrey Philips India said that Q1 June 2013 net profit was hit by an exceptional item of Rs 35.38 crore incurred as compensation paid to unionized staff and workmen attached to the company's plant at Andheri, Mumbai, pursuant to voluntary retirement schemes announced by the company.

Godfrey Phillips India said that the government's decision to increase excise duty on cigarettes in the range of 11% to 72% in the Union Budget 2014-15 presented on 10 July 2014 may have bearing on the financial performance of the company in the remaining part of the year.

Godfrey Philips India manufactures and sells cigarette, tobacco, and tea products in India.

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