Cigarette maker Godfrey Phillips India (GPI) on Friday reported a 32.93 percent decline in its standalone net profit at Rs 53.78 crore for the first quarter ended June 30, due to lower sales. The company had reported a standalone net profit of Rs 80.19 crore in the same quarter a year ago. Godfrey Phillips' net sales during the April-June quarter stood at Rs 587.71 crore, down 13.98 percent from Rs 683.29 crore in the same period last fiscal, the company said in a BSE filing.
During the quarter under review, overall expenses stood at Rs 516.71 crore as against Rs 584.07 crore, down 11.53 percent in the corresponding period last year.
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