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Godfrey Phillips scales 52-week high on Monday after strong quarterly earnings

Godfrey Phillips scales 52-week high on Monday after strong quarterly earnings

Godfrey Phillips scales 52-week high on Monday after strong quarterly earnings
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By CNBCTV18.com Nov 14, 2022 6:08:51 PM IST (Published)

Shares of Godfrey Phillips have gained nearly 60 percent this year, on-par with ITC, which has gained a similar quantum.

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Godfrey Philips hit another 52-week high on Monday, after a strong September quarter earnings performance. Shares have surged 25 percent over the last month.
On a year-to-date basis, the stock has gained 60 percent, on-par with ITC, which has gained a similar quantum.

The company's revenue grew 58 percent from last year while EBITDA rose over 60 percent. Net profit increased 70 percent year-on-year for the September quarter.

Within the company, its tobacco segment revenue increased 58 percent while its segment EBIT was up 70 percent from last year.

The company has mentioned that the December quarter will see an exceptional gain of Rs 80 crore due to the sale of their chewing tobacco business.

The consolidated net profit for the September quarter increased to Rs 178.19 crore compared to Rs 104.91 crore in the period ending September 2022.

Some of the key triggers for the company ahead include:

  • Strengthening the partnership with Philip Morris International
  • Build on existing cigarettes export markets to enhance own brand sales
  • Capitalise on the fast growing retail space through 24Seven’s innovative approach
  • Shares of Godfrey Philips ended 5.2 percent higher at Rs 1,769.
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