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ITC extends losses after reporting flat bottom line in Q2

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Capital Market
Last Updated : Oct 30 2015 | 3:13 PM IST

ITC tumbled 4.6% to Rs 333.65 at 14:39 IST on BSE after net profit rose 0.25% to Rs 2431.25 crore on 1.32% decline in total income from operations (net) to Rs 8904.23 crore in Q2 September 2015 over Q2 September 2014.

The result was announced during trading hours today, 30 October 2015.

Meanwhile, the S&P BSE Sensex was down 167.27 points or 0.62% at 26,670.87.

On BSE, so far 6.69 lakh shares were traded in the counter as against average daily volume of 5.39 lakh shares in the past one quarter.

The stock was volatile. The stock lost as much as 5.24% at the day's low of Rs 331.40 so far during the day. The stock rose as much as 0.35% at the day's high of Rs 351 so far during the day. The stock had hit a 52-week low of Rs 294.50 on 15 June 2015. The stock had hit a record high of Rs 409.70 on 28 February 2015.

The stock had outperformed the market over the past one month till 29 October 2015, surging 9.18% compared with the Sensex's 4.11% rise. The scrip had also outperformed the market in past one quarter, jumping 15.07% as against Sensex's 2.63% fall.

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The large-cap company has equity capital of Rs 802.88 crore. Face value per share is Rs 1.

ITC said that the company's performance in Q2 September 2015 remained subdued reflecting the unprecedented pressure on legal cigarette industry volumes, lack of trading opportunities in agri-commodities and sluggish demand environment prevailing in the FMCG industry coupled with prolonged disruption in the instant noodles category due to regulatory challenges.

ITC is a diversified company, with presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.

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First Published: Oct 30 2015 | 2:40 PM IST

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