ITC Limited announced on May 18 that its standalone net profit for the March quarter has increased by 21.4% compared to the same period last year. The net profit stood at Rs 5,086.9 crore, a significant growth from Rs 4,190.9 crore in the previous year.
The company’s revenue from operations, excluding excise duty, also witnessed a 5.6% year-on-year increase, reaching Rs 16,398 crore compared to Rs 15,531 crore in the year-ago period. The reported figures for both revenue and net profit surpassed analysts’ estimates.
Analysts had predicted a net profit of Rs 4,764.4 crore and revenue of Rs 16,152 crore, according to a poll conducted by brokerages.
ITC’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the quarter reached Rs 6,209.3 crore, indicating a 19% YoY growth. EBITDA margins also improved to 37.9% from 33.6% in the same period last year.
In addition to the financial results, the company declared a final dividend of Rs 6.75 and a special dividend of Rs 2.75 per equity share.
Regarding the performance of its various segments, the cigarette business experienced a 14% YoY growth, generating revenue of Rs 7,355.83 crore in the March quarter. The FMCG (Fast-Moving Consumer Goods) segment saw a 19% increase in revenue, reaching Rs 4,944.95 crore, while the hotels business revenue nearly doubled to Rs 781 crore.
On the other hand, the agri business revenue declined by 18% to Rs 3,578.6 crore, and the paperboards segment witnessed a 4% growth, generating revenue of Rs 2,221 crore.
Following the announcement of the results, ITC shares closed at Rs 418.75 on the NSE (National Stock Exchange), representing a 2% decrease.
ITC, a leading Indian conglomerate, has reported a 21% increase in its net profit for the fourth quarter (Q4). The company’s net profit stood at Rs 5,087 crore, representing a significant growth compared to the previous year. Additionally, ITC’s revenue for the quarter rose by 5.6%, indicating a positive performance in terms of sales and business operations.
These financial results highlight ITC’s strong performance during the specified period. The increase in net profit signifies improved profitability, which can be attributed to various factors such as increased sales, cost management, and operational efficiencies. The growth in revenue suggests that the company has been successful in generating higher sales and expanding its market presence.
It is worth noting that financial performance indicators like net profit and revenue are crucial in assessing a company’s financial health and performance. However, a comprehensive analysis of other factors, such as operating expenses, margins, and market dynamics, is necessary to gain a deeper understanding of ITC’s overall business performance and outlook.
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