Godfrey Phillips India is the top gainer on the BSE. The stock price opened Rs.60 higher at Rs.771 and went on to hit the 20% UC and a new 52-week new high at Rs.850.95.
The company which makes the Marlboro brand of cigarette posted a whopping two-fold jump in consolidated net profit at Rs.118 crore on a 40% (YoY) jump in revenue at Rs.841 crore. Cigarette revenue jumped up 41% and its EBIT was up 119%.
Though ad expenses jumped up 49%, other expenses came down and this was reflected in the operating profit, which was up 2 times at Rs.201 crore and margins rose from 16.5% to 23.9%.