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The company attributed the subdued nature of the results to the impact of the steep hike in excise duty on cigarettes announced in the Union Budget 2014 and sharp increases in VAT on cigarettes by Tamil Nadu, Kerala and Assam. Earnings from cigarettes rose 0.6% year-on-year to Rs 4,141.94 crore as compared to Rs 4116.07 crore in the corresponding period previous year.
The non-cigarette FMCG segment which comprises packaged food, personal care, education and stationery products, safety matches and incense sticks (agarbattis), held onto post a revenue growth of Rs 2,314.12 crore as compared to Rs 2077.82 crore in the year ago period. FMCG-Others Segment registers a healthy revenue growth of 11.4% amidst continuing weakness in discretionary demand, said the company in a statement. The company launched two new products in the bakery and confectionery food segment
Among other businesses, revenue of paper & packaging division declined 4.6% Y-o-Y to Rs 1,198.77 crore and even agri revenue slipped 10.5% to Rs 1,598 crore in the quarter.
Hotels business reported 4.6% growth in revenue at Rs 330 crore.
Among other businesses, revenue of paper & packaging division declined 4.6% Y-o-Y to Rs 1,198.77 crore and even agri revenue slipped 10.5% to Rs 1,598 crore in the quarter.
