Godfrey Phillips India's Profits Surge: A Smoky Success
Godfrey Phillips India saw a 56% rise in net profit, reporting Rs 356.28 crore for the June quarter. Shares soared 10% hitting a 52-week high amid a generally declining market. The company announced plans for a 2:1 bonus share issue, pending shareholder and regulatory approvals.
- Country:
- India
Shares of Godfrey Phillips India surged by 10% on Tuesday following the announcement of a 56% rise in the company's consolidated net profit to Rs 356.28 crore for the quarter ending in June.
This rise in share prices saw the company's stock reach a 52-week high amid a generally declining market, where the BSE Sensex fell by 380.92 points and the NSE Nifty dropped 113.50 points.
The company has announced a 2:1 bonus share issuance pending necessary approvals, further boosting investor confidence despite increased operational costs reported in the same quarter.
(With inputs from agencies.)
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