Cigarette maker Godfrey Phillips India Thursday reported a 17.97 per cent decline in standalone profit to Rs 35.36 crore for the fourth quarter ended March 2019 due to impairment charges.
The company had reported a profit of Rs 43.11 crore in the January-March quarter a year ago.
Its total income during the quarter under review stood at Rs 672.76 crore, up 14.75 per cent as against Rs 586.27 crore for the corresponding period a year ago, Godfrey Phillips said in a BSE filing.
During the quarter, the company made a provision of Rs 15.08 crore for impairment of investment value in wholly-owned foreign subsidiary Flavors and More Inc (F&M) due to closure of the business operations.
The board of directors of the company have recommended a dividend of Rs 10 per share for financial year 2018-19.
Shares of Godfrey Phillips India were trading 4.98 per cent lower at Rs 943 apiece on the BSE.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)