Godfrey Phillips falls 6% as Q1 net profit declines 44%

Shares of cigarette-maker Godfrey Phillips slipped 6% to Rs 2,119.10 apiece on the BSE on Tuesday after the company reported a 44.3% year-on-year decline in its Q1 net profit to Rs 198.39 crore. Net revenue from operations for the firm fell 18.8% to Rs 1,206 crore during the June quarter of the current financial year, largely due to an excise duty outgo of Rs 2,614 crore.