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Cigarette maker Godfrey Phillips India Ltd on Thursday reported an increase of 46.25 per cent in its consolidated net profit to Rs 215.12 crore for the fourth quarter ended March 2024. The company had posted a net profit of Rs 147.09 crore during the January-March period of the previous fiscal, according to a regulatory filing from Godfrey Phillips India.
Godfrey Phillips India produces a range of cigarette brands. The company also manufactures and distributes the global cigarette brand Marlboro in India through an arrangement with Philip Morris.
The exit will be subject to completion of the necessary formalities, Godfrey Philips has said
Tobacco manufacturer Godfrey Phillips India Ltd has decided to exit its retail business division, 24Seven, after a negative net worth as of March 31, 2023, following losses. The decision was made after a thorough review of the division, considering stakeholders' feedback, long-term performance, market conditions, and long-term business strategy.
India Business News: NEW DELHI: Cigarette maker Godfrey Phillips India on Friday said it has decided to exit from its loss-making retail business 24Seven.