ITC Q3 results: ITC Q3 results: Profit rises 13% YoY to Rs 4,156 cr; dividend declared at Rs 5.25
This compares with ET Now poll estimate of Rs 3873 crore.
Revenue from sale of products came in at Rs 16,633.86 crore, up 31.25 per cent against Rs 12,673.31 crore in the corresponding quarter last year.
The company also announced an interim dividend of Rs 5.25 per share. The company has fixed February 15 as the record date and the dividend will be credited by March 4, it said.
ITC’s cigarette revenue came in at Rs 6,244.11 crore for the quarter, growing 13.56 per cent compared to the year-ago period. Revenue from other FMCG businesses came in at Rs 4,090.56 crore, up 9.26 per cent. Its hotel business also showed significant growth.
The company said its non-cigarette FMCG Ebitda (earnings before interest, taxes, depreciation and amortization) for the quarter was Rs 372.88 crore, compared to Rs 359.62 crore for the same quarter last year.
Its non-cigarette FMCG vertical includes branded packaged foods businesses, education and stationery products, personal care products, safety matches and agarbattis and apparel.
ITC said it is spending a considerably large amount on brand building for this segment. For the quarter, it spent Rs 2,274.69 crore towards this expense, up 26.43 from the same quarter last year.
Ahead of its earnings, ITC ended up 1.14 per cent on BSE.