ITC today reported a 20% increase in consolidated net profit at Rs 2,755.26 crore for the year ended March 31, 2007 when compared with Rs 2,295.38 crore in FY06 driven by the non-cigarette FMCG businesses, higher agri-business revenue and the continuing strong performance by the hotels business. According to a release issued to the BSE today, total income increased to Rs 13,234.49 crore from Rs 10,637.99 crore in FY06.The non-cigarette portfolio grew by 37.6% during the year, and now accounts for 52.3% of the net turnover. The company, on a stand-alone basis, posted a profit after tax of Rs 650.69 crore for the fourth quarter ended March 31, 2007 when compared with Rs 567.89 crore in Q4FY06. Total income increased from Rs 2,859.08 crore for the quarter ended March 31, 2006 to Rs 3,568.62 crore in Q4FY07.The company has posted a profit after tax of Rs 2,699.97 crore in FY07 as against Rs 2,235.35 crore in FY06. Total income increased from Rs 10,076.61 crore in FY06 to Rs 12,705.79 crore in FY07.The board has recommended a dividend of 310% i.e Rs 3.10 per share of Re 1 each for the year ended March 31, 2007, the release added.The board also approved a proposal to set up a strategic business unit (SBU) for home and personal care products as part of the FMCG portfolio.
