Wednesday, October 14, 2009

Selling out Godfrey

Selling out Godfrey Phillips. 1Q10 earnings had a excise benefit of 16 crore, as well as other income of 24 crore (vs 10 crore in 1Q09). Remove these two items, and core profits grew 20% instead of doubling. So 2Q10 profits should be down sequentially - quite massively. This is probably not what the market is looking for right now.

1 comment:

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