Godfrey Philips ups market share on higher volumes amid tepid demand

Despite market burn, tobacco major posts 13.1% volume growth

At a time when tobacco majors have been posting muted growth due to tepid consumer demand, Godfrey Philips posted 13.1 per cent volume growth during the first three quarters of the current financial year. This has led to a market share gain of 1 per cent. 
 

In its earnings presentation after the third quarter results, the company’s Chief Executive Officer Bhisham Wadhera said, “Godfrey Phillips delivered strong cigarette domestic volume growth of 13.1 per cent during the nine months along with a better product mix and improved realisations. Our domestic cigarette market share also increased from 11.9 per cent to