Godfrey Phillips to go ahead with exit from retail business under 24Seven

Cigarette maker Godfrey Phillips India Ltd is proceeding with plans to exit the retail business under the '24Seven' brand after a district court in Delhi set aside an interim injunction. The board approved the exit on April 12, 2024, citing stakeholder feedback and market conditions. The retail business division had a negative net worth as of March 31, 2024, with revenue of Rs 403 crore in FY23-24.