March 2, 2024

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Imagination at work

ITC reports 30% rise in Q1 net profit at Rs 3,343 crore

Cigarette-to-hotel conglomerate ITC Ltd on Saturday claimed thirty for each cent increase in consolidated web earnings at Rs 3,343 crore for the first quarter of latest economic year (Q1FY22). The same was Rs two,567 crore in the June quarter of past year.

Its revenue from functions rose 36 for each cent for each cent to Rs 14,240 crore as versus Rs 10,478 crore in the year-ago period.

Having said that, on a sequential basis, the earnings soon after tax (PAT) fell twelve for each cent. It was Rs 3,816 crore all through the March quarter (Q4FY21).

The FMCG key claimed it has observed potent rebound across running segments in spite of constraints in the wake of the next coronavirus wave.

Segment smart, the revenue from the FMCG-cigarette small business arrived in at Rs five,802 crore, up 34 for each cent from Rs 4,330 crore claimed in the past year period. The earnings before tax (PBT) of cigarette small business far too rose 36.five for each cent at Rs 3,461 crore in the first quarter.

On the cigarette small business, it claimed the potent quantity restoration momentum witnessed in the next 50 percent of FY21 was impacted by localised lockdowns and limited several hours of ease retail outlet functions in the wake of next wave of the pandemic.

Having said that, ITC claimed there has been week‐on‐week advancement in market disorders from mid‐June with most markets returning to normalcy.

The non-cigarette FMCG small business or FMCG-other segment clocked a revenue of Rs 3,731 crore, up 10 for each cent year-on-year, although the PBT of the same arrived in at Rs 174 crore.

The revenue from accommodations segment additional than tripled to Rs 134 crore as compared to a meagre Rs twenty five crore in year-ago period. The agri small business revenue rose 9 for each cent, although that from the Paperboards, Paper & Packaging surged 54 for each cent.

On Friday, ITC’s scrip traded 3 for each cent larger, its sharpest intra-working day attain in two months forward of the benefits, before sooner or later closing two.sixty three for each cent larger at Rs 212.45 on NSE.

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