Bonus Boost: Godfrey Phillips Surges Over ₹9,800 After Impressive Q1 Earnings

Shares of Godfrey Phillips India surged 10% on Tuesday to record highs after the company reported strong quarterly earnings and announced a bonus share issue.

According to an official press release dated August 4, Godfrey Phillips reported a 64% jump in net profit to ₹365 crore for the quarter ended June 30. Revenue rose 34% to ₹1,807 crore.

The board also approved a 2-for-1 bonus share issue, with September 16 set as the record date. The bonus shares will be issued by capitalizing general reserves or retained earnings, with eligible shareholders receiving two fully paid-up equity shares of ₹2 each for every existing share held, the company said.

At the time of writing, Godfrey Phillips’ stock was up 8.1% at ₹9,839.

Godfrey Phillips India was among the top three trending stocks on Stocktwits as of 10:15 a.m. IST on August 5.

Retail sentiment on the platform shifted to ‘bullish’ from ‘neutral’ a day earlier.

Year-to-date, the stock has added a massive 89% to its value.

For updates and corrections, email newsroom[at]stocktwits[dot]com