ITC Q1 net profit likely to rise 16%, revenue may remain flat YoY
1 year, 4 months ago

ITC Q1 net profit likely to rise 16%, revenue may remain flat YoY

Live Mint  

ITC Ltd, the diversified conglomerate, is set to declare its Q1 results today. The cigarette manufacturer is expected to see decent double digit growth in the net profit for the first quarter of FY24, while its revenue is likely to remain flat on a year-on-year basis. ITC Q1 net profit is expected to rise 16.7% on-year to ₹4,886 crore led by steady growth in cigarette and fast-moving consumer goods businesses, as per brokerage poll by Livemint. ITC’s cigarette business is likely to deliver volume growth of around 10% and see market share gains in the absence of competition from illicit trade. Yes Securities expects ITC’s overall topline to be down by 2.3% YoY even while it expects 13.5% YoY revenue growth in cigarette business led by a volume growth of 11% YoY.

Growth Volume Growth Cigarette Revenue Remain Flat Itc Q1 Yoy Itc  remain  flat  volume  margin  likely  cigarette  revenue  net  expected  yoy  itc  q1  fmcg  profit  growth  securities  rise

History of this topic

Nestle India poised to lead FMCG sector's Q3 earnings
1 year, 2 months ago

Nestle India poised to lead FMCG sector's Q3 earnings

Live Mint  

Fast-moving consumer goods companies—Hindustan Unilever Ltd, Nestle India Ltd and ITC Ltd—are set to kickstart the sector’s September quarter earnings on Thursday. “Our FMCG pricing monitor reveals that Nestle continued to take price increases on several products during the quarter," said a Kotak Institutional Equities report dated 4 October. This comes at a time when rural demand recovery has been …

ITC Q1 net profit rises 16% to ₹5,180 crore
1 year, 4 months ago

ITC Q1 net profit rises 16% to ₹5,180 crore

The Hindu  

Diversified entity ITC Ltd. on Monday reported a 16.08% rise in consolidated net profit to ₹5,180.12 crore for the first quarter ended June. During the June quarter, revenue from the "total FMCG" segment, which also includes cigarettes, surged 13.46% to ₹13,528.37 crore. "The Businesses continued to drive improvement in profitability through multi-pronged interventions viz premiumisation, supply chain optimisation, judicious pricing …

ITC shares hit fresh 52-week high; should you buy?
1 year, 6 months ago

ITC shares hit fresh 52-week high; should you buy?

Live Mint  

The bullish run of ITC shares remains unabated as they rose nearly 2 per cent in morning trade to hit their fresh 52-week high of ₹442.50 on BSE on Thursday, looking set to extend its winning streak into the fifth consecutive session. The company outperformed analyst expectations with a 21.4 per cent surge in standalone net profit for the March …

ITC’s cigarettes biz growth prospectus intact despite new tax. Here’s why
1 year, 8 months ago

ITC’s cigarettes biz growth prospectus intact despite new tax. Here’s why

Live Mint  

FMCG major, ITC emerged as the top underperforming stock on Monday. In its latest note on ITC, Sharekhan said, "recent amendment in the Finance Bill 2023 on tobacco/tobacco products is unlikely to have any material impact on tax rates on cigarettes. Brokerage's note added, "ITC is expected to maintain its volume growth momentum in the cigarette business, given no price …

ITC Q3 earnings preview: Net profit, revenue could grow in double-digits
1 year, 10 months ago

ITC Q3 earnings preview: Net profit, revenue could grow in double-digits

Live Mint  

ITC Q3 results 2023 preview: On account of stellar performance by all segments, stock market observers are expecting strong Q3 results in FY23 from ITC. Avinash Gorakshkar said that net profit and revenue of the cigarette-to-hotel conglomerate may grow in double-digits and ITC shareholders may expect interim dividend as well. Suggesting ITC shareholders to hold the scrip for strong upside, …

ITC Q1 Result: Profit up 30.24%, revenue rises 35.9% as segments rebound
3 years, 4 months ago

ITC Q1 Result: Profit up 30.24%, revenue rises 35.9% as segments rebound

India TV News  

ITC Ltd has reported a 30.24 per cent jump in its consolidated net profit to Rs 3,343.44 crore for the first quarter ended June 2021 lead by a "strong rebound" in operating segments. During the April-June quarter, revenue from total FMCG business was Rs 9,534.07 crore, up 23.68 per cent, as against Rs 7,708.89 crore in the year-ago period. FMCG …

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