Godfrey Phillips slides after poor Q1 results

Godfrey Phillips India lost 4.54% to Rs 1,383 at 11:05 IST on BSE after net profit dropped 62% to Rs 22.38 crore on 18.5% fall in net sales to Rs 465.59 crore in Q1 June 2016 over Q1 June 2015.

The result was announced yesterday, 13 September 2016, when the stock markets were closed on account of Bakri Id.

Meanwhile, the S&P BSE Sensex was down 59.63 points or 0.21% at 28,293.91.

On BSE, so far 63,000 shares were traded in the counter as against average daily volume of 38,264 shares in the past one quarter. The stock hit a high of Rs 1,446.50 and a low of Rs 1,350.70 so far during the day. The stock had hit a 52-week low of Rs 556.10 on 11 September 2015. The stock had hit a record high of Rs 1,660.25 on 3 December 2015. The stock had outperformed the market over the past one month till 12 September 2016, surging 19.08% compared with 0.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 66.64% as against Sensex's 6.45% rise.

The mid-cap company has equity capital of Rs 10.40 crore. Face value per share is Rs 2.

Godfrey Phillips India, a flagship company of the K.K. Modi Group, is one of India's largest cigarette manufacturers. The company makes cigarette brands including Four Square, Red & White, and Cavanders, as well as Hawk Eye brand of premium cigarettes. The company exports its own cigarette brands, like Jaisalmer, Stellar and Black Jack among others, all over the globe. And under a license agreement with Philip Morris, it manufactures and markets Marlboro cigarettes in India.

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