Driven by robust growth in non-cigarette FMCG businesses and a healthy performance by its paper and packaging segment, conglomerate ITC today reported 9.97 per cent rise in net profit at Rs 808.99 crore for the fourth quarter ended March 31 over the same period last year.
The company had a net profit of Rs 735.64 crore in the same quarter ended March 2008. Its net income of the fourth quarter, however, declined by 2.84 per cent at Rs 3,927.41 crore, from Rs 4,042.57 crore in the same quarter a year ago.
ITC also announced that its board has recommended a dividend of Rs 3.70 per ordinary share of Re 1 each.
"This will entail a total cash outflow of Rs 1,634 crore, comprising proposed dividend of Rs 1,397 crore and income tax on the proposed dividend of Rs 237 crore," it said in a statement.
The firm said its non-cigarette FMCG grew by 20 per cent, while paper and packaging and paperboards grew by 23 per cent, agri business profits were up by 98 per cent, biscuits sales rose by 14 per cent and the stationary business witnessed 60 per cent rise.
The company, however, did not disclose the absolute numbers and turnover break up of each segment.
ITC said it has reported a growth of 10.3 per cent in net turnover during 2008-09 at Rs 15,388.11 crore, up from previous fiscal's Rs 13,947.53 crore.
"This performance was achieved despite the unprecedented increase in excise duties on non-filter cigarettes, coming close on the heels of the unparalleled levy of VAT on cigarettes in the preceding year," ITC said in a statement.
Hospitality segment also suffered due to the Mumbai terrorist attacks and the global economic slowdown, the company said.
High commodity prices and store rentals, brand building costs of new personal care portfolio and investments made in infrastructure and systems augmentation made an impact on the profitability, ITC said.
Shares of ITC settled at Rs 183.25, up 0.60 per cent on the BSE.
