Agri business, hotels boost ITC profit
6 years, 2 months ago

Agri business, hotels boost ITC profit

The Hindu  

ITC Ltd. closed the second quarter with a 11.9% rise in its net profit to ₹2,954.7 crore on a revenue of ₹11,272.5 crore. FMCG boost ITC said that its FMCG-others segment revenues rose 12.7% with most categories improving their market-standing. Paperboards, paper and packaging segment also saw an increase in profit driven by product mix enrichment, higher realisation, strategic investments in imported pulp substitution, process innovation leading to improved pulp yield and benefits of cost-competitive fibre chain. ITC, however, admitted that the limited pressure on legal cigarette industry volumes, adverse quality and leaf cost escalation pertaining to Andhra 2017 crop and lower export incentives weighed on cigarette segment results. An Edelman Securities Ltd report said that the 5 % rise in cigarette volumes beat their expectations although margins were impacted by Kerala floods and one off cost related to the graphic health warnings.

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History of this topic

ITC June quarter profit flat at ₹4,917 cr, revenue rises 7.2% to ₹18,220 cr
5 months, 2 weeks ago

ITC June quarter profit flat at ₹4,917 cr, revenue rises 7.2% to ₹18,220 cr

Live Mint  

New Delhi: ITC Ltd on Thursday missed Street estimates, with a mere 0.30% rise in standalone net profit in the June quarter, on account of higher expenses. Cigarette business and FMCG business faired well with 6-7% revenue growth and better margins, while agri and paperboard, paper & packaging saw dip in the profitability, impacting overall margins of the company. Meanwhile, …

ITC Q1 net profit rises 16% to ₹5,180 crore
1 year, 5 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 board gives in-principle nod for demerger of hotels business
1 year, 5 months ago

ITC board gives in-principle nod for demerger of hotels business

Live Mint  

ITC Ltd. board has given in-principle approval for the demerger of its hotels business and to incorporate a wholly owned subsidiary called ITC Hotels. “After due consideration, the Board accorded its in-principle approval to the demerger of Hotels Business under a scheme of arrangement, with the Company holding a stake of about 40% in the new entity and the balance …

ITC Q1 Result: Profit up 30.24%, revenue rises 35.9% as segments rebound
3 years, 5 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 …

ITC’s net profit rises 12.6% to ₹3,174 cr in June quarter
5 years, 5 months ago

ITC’s net profit rises 12.6% to ₹3,174 cr in June quarter

Live Mint  

New Delhi: ITC Ltd, India’s largest cigarette maker, on Friday reported 12.6% increase in its June quarter stand-alone profit, in line with Street estimates. Segmental revenue at the company’s FMCG-others business, which includes packaged food and personal care products, grew 6.6% to ₹3,060 crore; the segment’s EBIT grew 55% to ₹78.02 crore. “Cigarette revenue and volumes growth was moderate, while …

ITC’s FMCG business to include newer categories, acquisitions, says Puri
5 years, 6 months ago

ITC’s FMCG business to include newer categories, acquisitions, says Puri

Live Mint  

New Delhi: Cigarettes to packaged consumer goods conglomerate ITC Ltd on Friday reiterated its plans to expand its fast-moving consumer goods business by adding newer segments under its portfolio and even looking at strategic acquisitions, the company said during its 108th annual general meeting in Kolkata. To be sure ITC already sells packaged foods, personal care, and stationery under its …

ITC clocks 4% increase in third quarter profit at Rs 3,209 cr; gross sales revenue up 15.09% to Rs 11,340 cr
5 years, 11 months ago

ITC clocks 4% increase in third quarter profit at Rs 3,209 cr; gross sales revenue up 15.09% to Rs 11,340 cr

Firstpost  

ITC had posted a net profit of Rs 3,090.20 crore in October-December quarter a year ago, ITC said in a BSE filing. New Delhi: Diversified group ITC on Wednesday reported 3.84 percent increase in standalone net profit at Rs 3,209.07 crore for the third quarter ended 31 December, 2018. The company had posted a net profit of Rs 3,090.20 crore …

ITC aims to match revenues from managed hotels to that from owned properties
6 years, 5 months ago

ITC aims to match revenues from managed hotels to that from owned properties

Live Mint  

Kolkata: After years of pursuing growth by building properties across India, ITC Ltd is looking to raise the share of revenue from managed hotels in a bid to shore up shareholder returns from the segment. Currently, ITC’s hotels division earns 60% of its revenue from owned properties. For the past few years, the division has been under pressure because of …

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