Godfrey Phillips Q3 net profit jumps 70% YoY to Rs 199 crore

Godfrey Phillips' revenue from cigarette business increased nearly 30 percent to Rs 1,000 crore in Q3FY23 from Rs 771 crore in Q3FY22 (Representative image)

Cigarette maker Godfrey Phillips India Ltd on January 27 reported a 70.3 percent surge in consolidated net profit at Rs 199.30 crore for the quarter ended December 31, 2022. The company had reported a net profit of Rs 117 crore in the year-ago period.

However, sequentially, the net profit almost came flat from Rs 201 crore in the previous quarter (July-September period).

On a standalone basis, the company's net profit jumped 55.5 percent to Rs 182 crore in the quarter under review from Rs 117 crore last fiscal.

Revenue from operations for the said quarter also increased 30 percent to Rs 919.6 crore as against Rs 706 crore in the same quarter last fiscal.

Moreover, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 20 percent to Rs 209.8 crore in the December 2022 quarter as compared to Rs 175.1 crore in the December 2021 period. The EBIT margin however decreased 200 basis points to 22.8 percent.

Segment-wise, Godfrey Phillips stated that its revenue from cigarette business increased nearly 30 percent to Rs 1,000 crore on Q3FY23 from Rs 771 crore in Q3FY22. Revenue from retail and other products also grew 11 percent.

Moreover, its total income was at Rs 1190.62 crore in the December quarter. This is 37.3 percent higher than Rs 866.61 crore in the year-ago period.

Meanwhile, shares of Godfrey Phillips closed 3.55 percent lower at Rs 1,900 apiece on BSE on yet another day of market carnage as benchmark indices closed over 1.5 percent lower.