Godfrey Phillips shares fall 6% as Q1 net profit declines over 44% amid tax-led price increase

Godfrey Phillips shares fell 6 percent after its Q1 FY27 net profit declined by over 44 percent year-on-year amid a tax-led price increase. While gross revenue more than doubled to Rs 3,820 crore, gross profit margin contracted sharply to 7.8 percent from 15.3 percent a year ago, and total expenses more than doubled to Rs 3,675 crore. Domestic cigarette sales volumes slipped 2 percent, and management flagged higher taxes and the growth of illicit trade as key concerns for the legal cigarette industry.