ITC PAT falls 18.23% to Rs 3,413 cr in Sept quarter, revenues rise 2%

Segment revenues in cigarettes during the quarter stood at Rs 5,627.67 crore compared to Rs 5,841.91 crore in the corresponding period last year

Lower revenues from cigarettes and hotels dragged down diversified conglomerate ITC’s profit after tax (PAT) in the September quarter 18.23 per cent to Rs 3,413.44 crore.

In the June quarter, PAT was at Rs 2,562.73 crore. Revenues from operations at Rs 13,147.81 crore were higher by 2 per cent in the year ago period; in the June quarter, it was at Rs 10,478.46 crore.

The company said that the operating environment remained extremely challenging during the quarter with the unabated increase in daily Covid cases prompting several states to impose localized lockdowns.

“This impacted the recovery momentum, particularly in the months of July