Godfrey Phillips India's People-First Approach Drives Impressive Q3 FY24 and Nine Months Ended Dec-23 Performance with Robust Revenue Growth

Godfrey Phillips India Limited, a key player in the Indian FMCG industry, is pleased to declare its financial performance for the third quarter of the fiscal year 2023-24 (FY24). The companys remarkable growth and steadfast resilience have led to the attainment of noteworthy milestones.

Dr Bina Modi, Chairperson, and Managing Director of Godfrey Phillips India and Sharad Aggarwal, CEO, and Whole Time Director of Godfrey Phillips India

During the Q3 FY 2024 (Consolidated), Godfrey Phillips India experienced an impressive surge in revenue from operations, rising by 33.8% to reach Rs. 1488 crore, as compared to Rs. 1112 crore in the corresponding period of the previous year. The company also recorded a net profit of Rs. 212 crore during the Q3 FY 2024 (Consolidated) as compared to Rs. 199 crore in the corresponding period of the previous fiscal, as reported in a regulatory filing.

Addressing this remarkable achievement, Dr Bina Modi, Chairperson, and Managing Director of Godfrey Phillips India, stated, "We are thrilled to share the financial results for Q3 FY2024, showcasing the sustained growth momentum from the preceding year to this quarter. I am steadfast in my belief that a company flourishes when its people flourish. Consequently, we persistently foster a culture of high performance, make significant investments in capacity building, and prioritize the overall well-being of our employees. The consistent recognition as a Great Place To Work for five consecutive years solidifies our steadfast commitment to our People-First philosophy."

During April to December'23 period, Godfrey Phillips India reported consolidated revenue from operations of Rs. 4107 Crores and Net Profit of Rs. 669 Crores, representing an impressive increase of 25.0% and 23.2% respectively when compared to Rs. 3285 crore and Rs. 543 crore respectively in the corresponding period of the previous year.

Sharad Aggarwal, CEO, and Whole Time Director of Godfrey Phillips India commented on the companys future plans, said, "We are dedicated to ensuring optimal outcomes for all our stakeholders. Our growth in revenue from domestic business was additionally bolstered by a substantial surge in exports of unmanufactured tobacco, reaching Rs. 1107 Crores during April to December'23 period which signifies an impressive growth of 68.4% compared to the corresponding figure in previous year. Looking ahead, we aim to broaden our business horizons by prioritizing sustainable growth and profitability."

Maintaining a positive perspective, Godfrey Phillips India remains unwavering in its dedication to not only deliver sustainable growth but also to create substantial value and achieve excellence across all facets of its operations. This commitment underscores the companys enduring focus on long-term success and its proactive approach to addressing challenges while seizing opportunities in the ever-evolving business landscape.

About Godfrey Philips India

Godfrey Phillips India Limited (GPI), the flagship company of Modi Enterprises - KK Modi Group, is one of the largest FMCG companies in India and is counted among India's Fortune 500 organizations.