ITC Q1 net profit up 12.6 per cent

Kolkata: ITC on Friday notched up a stand-alone net profit of Rs 3,173.94 crore, up by 12.60 per cent, for the June quarter, riding on higher revenue from operations. The company had posted a net profit of Rs 3,049 crore in the previous fiscal.

"The company posted a steady performance amidst sluggish demand conditions. Gross revenue stood at Rs 11361.35 crore, representing a growth of 6 per cent, driven mainly by Paperboards, Hotels and FMCG-Others (excluding the Lifestyle Retailing Business). Profit After Tax at Rs 3,173.94 grew by 12.6 per cent. Total comprehensive income stood at Rs 2,960.93 crores (previous year Rs 2,897.10 crores). Earnings per share for the year stood at Rs 2.59 (previous year Rs 2.31)," a company official said. The sales of the cigarette segment increased to Rs 5,433.40 crore from Rs 5,127.59 crore. Total expenses for the period were at Rs 8,113.67 crore as compared with Rs 7,667.62 crore, up 5.81 per cent.

The company said that the FMCG-others segment delivered a resilient performance during the quarter amidst a marked slowdown in the FMCG industry across urban and rural markets. Segment revenue grew by nearly 8 per cent on a comparable basis (excluding the Lifestyle Retailing Business) led by Atta, Potato Chips, Premium Cream Biscuits and Noodles in the Branded Packaged Foods Business, Liquids (Handwash & Bodywash) in the Personal Care Products Businesses and Notebooks in the Education & Stationery Products Business.