Godfrey Phillips India has surged 10% to Rs 2,865 after reporting more-than-double net profit before exceptional items at Rs 59 crore for the quarter ended June 30, 2013 (Q1) on back of healthy operational performance. The country’s second largest cigarette maker had a profit of Rs 28 crore during year ago quarter.
Meanwhile, the company said it has reported net profit at Rs 23 crore after exceptional expenses of Rs 35 crore as compensation paid to unionized staff and workmen attached to the company’s plant at Andheri, Mumbai, pursuant to the voluntary retirement schemes announced by it.
The company’s total operational income grew 27% to Rs 615 crore during the quarter against Rs 484 crore in the corresponding quarter of previous fiscal, it added.
The stock opened at Rs 2,604 and hit a high of Rs 2,884 on NSE. A combined around 4,100 shares have changed hands on the counter till 1320 hours on NSE and BSE.
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