Today, Godfrey Phillips India surged 8.18 per cent to Rs 1232 after the consolidated net profit of the company rose 26.65 per cent to 142.30 crores on a 35.76 per cent increase in net sales to Rs 819.55 crore in the first quarter of this year 2023 over the same period of the last year 2021.

The consolidated profit before tax (PBT) rose 20 per cent yearly to Rs 158.56 crore in the first quarter. Its expenses rose 30.86 per cent to Rs 825.61 crore in Q1 FY23 from Rs 630.90 crore. The cost of raw materials consumed stood at Rs 199.45 crore, up 53.6 per cent annually. The revenue from related products increased to Rs 877.19 crore compared to Rs 656.02 crore from last year’s FY2022.

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Meanwhile, the board of Godfrey Phillips India approved Bina Modi’s appointment as BOD’s chairperson to succeed R A Shah, who decided to retire and not seek re-appointment. Currently, Bina Modi is the managing director and CEO of the company. On Saturday, Godfrey Phillips (India) was approved by BOD by voluntarily winding up its Dubai-based owned subsidiary company Godfrey Phillips Middle East DMCC.