The manufacturer of Four Square cigarettes, Godfrey Phillips Ltd., saw its shares rise as much as 6.5% on Friday after the company’s June quarter results were released on Thursday. The company beat its rivals in terms of cigarette volumes.
According to the company’s investor presentation, Cigarette volumes increased by 26.2% from the previous year, outpacing ITC’s 2.5% rise and VST Industries’ 5.5% fall in the June quarter. The firm surpassed ITC in five of the previous six quarters in terms of cigarette volume growth.
The company also stated that it has begun the appropriate measures to quit its retail business operations. The retail company generated ₹99 crore in gross sales during the quarter.
Godfrey Phillips’ international business generated ₹327 crore in revenue during the quarter, or 23% of the overall topline.
As of 10:15 am, Godfrey Phillips shares were trading 5.03% higher at Rs 4,335.25 on the NSE.
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