Cigarette-maker Godfrey Phillips India (GPI) today reported over three-fold jump in its standalone net profit at Rs 80.19 crore for the first quarter ended June 30, 2014.
The company had reported a standalone net profit of Rs 23.35 crore in the same quarter a year ago.
Godfrey Phillips' net sales during the April-June Quarter also increased to Rs 683.29 crore, up 13.86 per cent, from Rs 600.07 crore in the same period last fiscal, the company said in a filing to the BSE.
During the quarter under review, overall expenses stood at Rs 583.22 crore as against Rs 558.51 crore in the corresponding period last year.
Godfrey Phillips, however, said that the government's decision to increase excise duty in the range between 11 to 72 per cent "may have bearing on the financial performance of the company in the remaining part of the year".