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Cigarette maker Godfrey Phillips India Ltd on Saturday reported a 16.6 per cent rise in its consolidated net profit to Rs 131.05 crore for the first quarter ended June 30.

The company had posted a net profit of Rs 112.40 crore during the April-June quarter of the preceding fiscal, Godfrey Phillips India said in a regulatory filing.

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Meanwhile, the board of Godfrey Phillips India also approved the appointment of Bina Modi as Chairperson of the board to succeed RA Shah, who decided to retire and not seek re-appointment.

Bina Modi is currently the Managing Director and CEO.  Godfrey Phillips India’s revenue from operations was up 33.49 per cent to Rs 981.83 crore during the quarter under review against Rs 735.49 crore in the corresponding period of the previous fiscal.

Its total expenses rose 30.86 per cent to Rs 825.61 crore in Q1 FY 2022-23 from Rs 630.90 crore.

Godfrey Phillips’ first-quarter revenue from cigarettes, tobacco and related products increased 33.71 per cent to Rs 877.19 crore compared to Rs 656.02 crore a year ago.

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Revenue from retail and related products in Q1 FY 2022-23 was up 34.52 per cent to Rs 104.50 crore against Rs 77.68 crore.

Godfrey Phillips operates the convenience store chain 24Seven.  Meanwhile, in a separate filing, Godfrey Phillips India informed that its board on Saturday approved the voluntary winding up of its Dubai-based wholly-owned subsidiary company Godfrey Phillips Middle East DMCC. PTI KRH BAL BAL

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