Godfrey Phillips India shares fall more than 6% following the company’s June-quarter earnings, which show a sharp year-on-year profit decline. NDTV reports the stock is down over 6%, underperforming the broader market, and notes a significant longer-term decline as well as a weaker year-to-date performance. Economic Times attributes the drop to a steep reduction in quarterly net profit. The outlet says Godfrey Phillips records a year-on-year decline of about 44% in June-quarter net profit, driven by higher excise duties that increase costs and squeeze earnings. Economic Times also reports that despite the profit fall, gross revenue and total income rise by more than double, indicating stronger top-line figures alongside margin pressure. The company states that domestic cigarette volumes remain resilient even as the tax-led price increase affects the market. It also highlights concerns about rising illicit trade, which can pressure legitimate sales. Across both reports, the share move is directly linked to the earnings results and the impact of taxes and related pricing on profitability.
Godfrey Phillips India shares drop after June-quarter profit falls sharply
Godfrey Phillips India shares fall more than 6% following the company’s June-quarter earnings, which show a sharp year-on-year profit decline. NDTV reports the stock is down over 6%, underperforming t...
- Godfrey Phillips India shares drop by more than 6% after the company reports June-quarter results.
- June-quarter net profit declines sharply year-on-year, by about 40–44% (reported as over 40% in one source and about 44.3% in another).
- Higher excise duty/taxes raise costs and weigh on earnings.
- Gross revenue and total income rise by more than double despite the profit decline.
- Domestic cigarette volumes remain resilient despite price increases linked to taxes; the company flags concerns about illicit trade.
Godfrey Phillips reported a 44.3% year-on-year decline in June-quarter net profit as higher excise duty weighed on earnings, even as gross revenue and total income more than doubled. The cigarette maker said domestic cigarette volumes remained resilient despite a tax-led price increase, while highlighting concerns over the rise in illicit trade.
6 hours agoShares of Godfrey Phillips India fell over 6%, underperforming the market, with a 28.27% decline over the last year and 24.80% year-to-date amidst challenging earnings.
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