ITC, the cigarettes-to-hotels conglomerate, has recorded a 26.6 per cent increase in net profit at Rs 1,144 crore in the quarter ended December 31, from Rs 903 crore in the same period last year, led by revenue growth in almost all its businesses, except hotels. Net income grew 18.7 per cent to Rs 4,580 crore, up from Rs 3,858 crore in the same quarter last year.
With the exception of the hotels segment, where revenues remained flat during the quarter due to weak global economic recovery, net revenues of the company’s cigarette business (cigarettes are 51 per cent of all sales revenue), FMCG-others (retail, personal care, packaged foods, garments, education and stationery products), agri business and paper and packaging segments grew by 18.7 per cent, 23 per cent, 45.7 per cent and 29 per cent, respectively.
The company’s cigarettes business continues to be its mainstay, growing 16.9 per cent during the quarter to Rs 2,331 crore, and accounted for 77 per cent of the total profit before tax. Earnings per share for the quarter was Rs 3.02.
