ITC fell 0.12% to Rs 325.30 at 13:15 IST on BSE in volatile trade after the company declared Q3 result during market hours today, 17 January 2014.
Meanwhile, the S&P BSE Sensex was down 145.99 points or 0.69% at 21,119.19
On BSE, so far 3.62 lakh shares were traded in the counter as against average daily volume of 4.74 lakh shares in the past one quarter.
The ITC stock turned volatile after declaring Q3 result. The stock rose as much as 0.76% at the day's high of Rs 328.20 so far during the day. The stock fell as much as 0.98% at the day's low of Rs 322.50 so far during the day. The stock had hit a 52-week low of Rs 281.15 on 10 April 2013. The stock had hit a record high of Rs 380 on 24 July 2013.
The stock had outperformed the market over the past one month till 16 January 2014, rising 4.06% compared with the Sensex's 2.93% rise. The scrip, however, underperformed the market in past one quarter, falling 4.15% as against Sensex's 3.49% rise.
The large-cap company has equity capital of Rs 793.55 crore. Face value per share is Re 1.
Also Read
ITC's net profit rose 16.25% to Rs 2385.34 crore on 13.4% rise in total income to Rs 9117.91 crore in Q3 December 2013 over Q3 December 2012.
ITC said gross revenue grew by 12.9% to Rs 12223.44 crore in Q3 December 2013 over Q3 December 2012 driven by the new FMCG businesses and the paperboards, paper and packaging segment.
In the FMCG segment, ITC said that the branded packaged foods businesses posted robust growth in revenues and enhanced market standing across categories by leveraging a portfolio of differentiated and innovative products.
In the staples, spices and ready-to-eat foods business, 'Aashirvaad' atta sustained its high growth trajectory and consolidated its leadership position across markets. The premium variants - 'Multi-grain' and 'Select' - continued to perform well.
In the bakery and confectionery foods business, the recently launched 'Sunfeast Delishus' gourmet cookies and 'Candyman Jellicious' in the jelly segment were extended to target markets and garnered increasing consumer franchise. The business also sustained its leadership position in the cream biscuits segment.
The snack foods business recorded strong growth during the quarter with the recently launched region-specific variants gaining traction with consumers. In the instant noodles category, 'Sunfeast Yippee!' grew at a rapid pace gaining consumer franchise. During Q3 December 2013, the business also launched a highly innovative 'tricolour pasta' format in 2 exciting variants. The product has received encouraging consumer response in launch markets.
The personal care products business continued to make steady progress in the fast-growing deodorants category with the 'Engage' range of deodorants continuing to receive good response from consumers.
The education and stationery products business consolidated its position as the leading player in the Indian stationery market driven by its flagship brands - 'Classmate' for the student community and 'Paperkraft' for office and executive requirements.
Overall, the new FMCG businesses recorded a robust growth of 16.4% in revenue despite a marked slowdown in consumption expenditure, ITC said. The segment also recorded a profit of Rs 10 crore during Q3 December 2013 on the back of enhanced scale and improvement in profitability.
In the hotel segment, the hospitality sector continued to be adversely impacted by the weak economic conditions and high levels of room inventory in key Indian cities leading to a relatively weak pricing scenario. Consequently, growth in segment revenues remained muted. Segment results, on the other hand, grew by 12.1% during Q3 December 2013 aided by improved financial performance by ITC Grand Chola. In line with strategy of expanding presence in an asset-light manner, the business commenced providing operating services at 3 properties (2 in Kerala, 1 Chandigarh) under the 'WelcomHotel' brand during Q3 December 2013. Along with the 390-room WelcomHotel, Dwarka which was operationalised in August 2013, the business has added approximately 650 rooms to its national footprint during the year through the management contract route. Construction activity of the new properties at Kolkata, Hyderabad, Bengaluru and at the Classic Golf Resort near Gurgaon are progressing as per plans, ITC said.
ITC said that agri business profits rose 19% in Q3 December 2013 over Q3 December 2012 driven by higher realisation and superior mix.
ITC has a diversified 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.
Powered by Capital Market - Live News