Profit rises 12% YoY to Rs 4,191 cr, beats estimates

NEW DELHI: FMCG major ITC on Wednesday reported a 11.80 per cent year-on-year (YoY) rise in standalone net profit at Rs 4,190.96 crore for the March quarter compared with Rs 3,748.42 crore in the same quarter last year.

The profit figure came in higher than an ET Now poll projection of Rs 4,118 crore.

Revenue from operation for the quarter rose 16.02 per cent YoY to Rs 16,426 crore from Rs 14,156.98 crore in the same quarter last year.

The board of the company recommended a final dividend of Rs 6.25 per share for the financial year ended March 2022. It will be paid between July 22-26, 2022. This is in addition to the interim dividend of Rs 5.25 per share declared in February.

Revenue from cigarette business grew 9.96 per cent to Rs 6,443.37 crore. Non-cigarette FMCG revenue stood at Rs 4,141.97 crore, up 12.32 per cent from the corresponding quarter.

In respect of non-cigarette FMCG, earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter ended March was Rs 374.69 crore compared to Rs 305.98 crore in the same quarter last year.

The company’s hotel business posted a strong 35.39 per cent revenue growth. Revenue from Agri business climbed 29.60 per cent, the company said.