Godfrey Phillips Q2 net more than doubles to Rs 59 cr, expenses fall 41%

Its revenue from cigarette and tobacco products was down 38.86% to Rs 576.23 crore as against Rs 942.62 crore

Cigarette maker Godfrey Phillips India on Saturday reported over two-fold jump in standalone net profit to Rs 58.80 crore for the second quarter ended September 30.

The company had reported a net profit of Rs 19.70 crore in July-September quarter a year ago, Godfrey Phillips said in a BSE filing.

However, its total income from operations slipped 35.32 per cent to Rs 670.92 crore during the quarter under review as against Rs 1,037.34 crore in the corresponding period last fiscal.

Godfrey Phillips overall expenses were down 41.70 per cent at Rs 587.31 crore in Q2 FY 2017-18 as against Rs 1,007.55 crore in the same period last year.

Its revenue from cigarette and tobacco products was down 38.86 per cent to Rs 576.23 crore as against Rs 942.62 crore.

Tea and other retail products were marginally up 0.16 per cent to Rs 78.05 crore as against Rs 77.92 crore.