Cigarette maker Godfrey Phillips India on Saturday reported a 53.56 per cent decline in its consolidated net profit to Rs 55.09 crore for the first quarter ended June 30.
The company had a net profit of Rs 118.63 crore in the same quarter a year ago.
Godfrey Phillips' total income from operations during the April-June quarter stood at Rs 503.60 crore, down 41.33 per cent, compared with Rs 858.49 crore in the same period last fiscal, the company said in a BSE filing.
During the quarter under review, overall expenses stood at Rs 440.85 crore, a decline of 35.55 per cent, against Rs 681.75 crore in the corresponding period last fiscal.
Godfrey Phillips manufactures cigarette brands, including Four Square, Red and White, Cavanders, Tipper and North Pole. It also manufactures and distributes Marlboro under a license agreement with Philip Morris.