Godfrey Phillips India down on Q2 pre-tax profit fall

Godfrey Phillips India

03/11/2023 09:13

** Shares of cigarette maker Godfrey Phillips India
 GDFR.NS  fall as much as 9.2%, their steepest intraday decline
since Dec. 23, to 2,132.75 rupees
    ** Co's Q2 profit before tax fell 8.2% YoY hit by a 19.8%
jump in expenses
    ** Expenses climb on input cost jump, purchases of
stock-in-trade, and excise duty
    ** Revenue up 15.4%; net profit flat  
    ** Stock on track to fall in second straight session after a
five-day winning streak, if trend holds
    ** Over 416,000 shares change hands as of 2:34 p.m. IST,
3.3X the 30-day moving average
    ** Stock last down 8.3%, trimming YTD gain to 8.8%

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))