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Godfrey Phillips India third quarter net profit up 8% at Rs 123 cr

Cigarette maker Godfrey Phillips India Ltd on Saturday reported an 8.09 per cent increase in its consolidated net profit

Godfrey Phillips India | Cigarette industry | Cigarettes

Press Trust of India  |  New Delhi 

cigarette, ITC
Representational image

Cigarette maker Ltd on Saturday reported an 8.09per cent increase in its consolidated net profit to Rs123.10crore for the third quarter ended in December 2020.

The company had posted a net profit of Rs113.89crore during the October-December quarter of the previous fiscal, said in a regulatory filing.

Its revenue from operations was up5.42per cent to Rs840.42 crore during the quarter under review as against Rs797.22crore in the corresponding period of the previous fiscal.

Godfrey Phillips' total expenses were at Rs714.53crore in the third quarter of 2020-21, up5.96per cent as against Rs674.33 crore.

Its revenue from cigarettes, tobacco and related products was at Rs752.66 crore, up 7.18 per cent compared to Rs702.24crore a year ago.

While revenue from retail and related products was down14.1 per cent to Rs 80.17crore as against Rs93.36crore in the third quarter last fiscal, it said.

Meanwhile, in a separate filing, informed that its board in a meeting held on Friday approved the voluntary winding up of its wholly-owned subsidiary Flavors & More Inc. based in the US.

The procedural formalities relating to voluntary winding up of the subsidiary will be done in due course of time, it said.

The board has also approved the appointment of Sumant Bharadwaj as an Additional Director to serve as an Independent Director of the company.

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First Published: Sat, February 13 2021. 19:54 IST