Kolkata, New Delhi, INDIA. New York, USA.
Business To Business, New Delhi, 28th July, 2026: Cigarette maker Godfrey Phillips India Ltd on Monday reported a 44.3 per cent year-on-year decline in consolidated net profit to Rs 198.39 crore for the April–June quarter (Q1 FY27), citing the impact of higher taxes.
The company's consolidated net profit stood at Rs 356.28 crore in the corresponding quarter of the previous financial year, according to a regulatory filing.
Commenting on the performance, Chief Executive Officer Sharad Aggarwal said the decline in profitability was primarily due to the sharp tax increase introduced in the fourth quarter of FY26.
"Due to the steep tax increase implemented in Q4 of FY26, the profitability has declined by 44 per cent compared to the corresponding period last year," Aggarwal said in the company's earnings statement.
The results indicate that while the company continued its operations during the quarter, the higher tax burden significantly affected its bottom line compared with the year-ago period.