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Cigarette maker Godfrey Phillips India (GPI) on Tuesday reported a 61.99 per cent decline in its standalone net profit at Rs 22.38 crore for the first quarter ended June 30, due to lower income from operations.
The company had reported a standalone net profit of Rs 58.88 crore in the same quarter a year ago.
Godfrey Phillips' total income from operations during the April-June quarter stood at Rs 940.56 crore as compared to Rs 1,069.51 crore in the same period of last financial year, the company said in BSE filing.
During the quarter under review, overall expenses stood at Rs 921.71 crore as against Rs 987.87 crore in the corresponding period last financial year.
