Godfrey Phillips India Ltd's Q3FY19 standalone net profit rises 26.6% yoy to Rs78.5cr

The company’s standalone revenue stood at Rs659.6cr, up 13.4% yoy and 4.7% qoq.

Feb 02, 2019 04:02 IST India Infoline Research Team

Godfrey Phillips India Ltd Q3FY19

Standalone Results Q3FY19: (Rs. in cr)

Q3FY19 YoY (%)
Revenue 659.6 13.4
EBITDA 115.6 26.5
EBITDA Margin (%) 17.5 182
Net Profit (reported) 78.5 26.6
***EBITDA margin change is bps
Godfrey Phillips reported strong set of numbers on operational front for the quarter. The revenue (net of excise duty) grew by 13.4% yoy to Rs659.6cr. Gross margin improved significantly on account of price hikes and favourable product mix by ~387bps yoy. However, the same has been partially offset by higher other expenses. Thus, EBITDA for the quarter jumped by 26.6% yoy to Rs115.6cr and EBITDA margin expanded by 182bps yoy to 17.5%. PAT for the quarter stood at Rs78.5cr, up 26.6% yoy.
  • Cigarette sales (net of excise duty, assuming all excise duty was towards cigarette sales) grew by 15% yoy with an EBIT growth of 58.2% yoy.
  • The tea division reported sales decline of 6.9% yoy. The EBIT loss for the segment stood at Rs19.4cr against loss of Rs112.2cr.
  • Advertisement cost for the quarter was down by 151bps of net sales to 4.5%.
  • Employee cost and other expenses were up by 72bps and 285bps yoy as a percent of net sales.
  • Tax rate for the quarter stood at 32.2% against 43.8% during same quarter last year.

Technical View:

Godfrey Phillips India Ltd is currently trading at Rs. 927.75, down by 5.95 points or 0.64% from its previous closing of Rs. 933.70 on the BSE.
The scrip opened at Rs. 933.20 and has touched a high and low of Rs. 940.10 and Rs. 922.15 respectively. So far 32,579 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.

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