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.
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.
<iframe src="https://hindustansphere.com/embed/cluster/00c44ef6789e7d0d4b4158b726de6394ab060571" width="100%" height="320" style="border:0;max-width:680px" loading="lazy" title="Godfrey Phillips shares fall 6% as Q1 net profit declines over 44% amid tax-led price increase"></iframe>
