ITC Q4 profit rises to Rs2,669 crore

Revenue from cigarettes, at Rs8,954.94 crore, was up 4.8% year-on-year, but pre-tax profit from the segment at Rs3,258.76 crore was up 7.95%, indicating expansion in the profit margin

ITC, India’s biggest cigarette maker, said revenue from cigarettes rose about 8% to Rs8,955 crore. Photo: Mint
ITC, India’s biggest cigarette maker, said revenue from cigarettes rose about 8% to Rs8,955 crore. Photo: Mint

Cigarettes and consumer goods maker ITC Ltd on Friday said its March quarter net profit rose 12.13% to Rs2,669.47 crore from Rs2,380.68 crore in the same period a year ago. The company’s gross revenue for the quarter at Rs15,410.92 crore was 6.2% higher than a year ago.

Broking firms such as Credit Suisse India Pvt. Ltd, Kotak Securities Ltd, Edelweiss Securities Ltd and Motilal Oswal Securities Ltd had in separate research reports said ITC was expected to turn in a net profit of Rs2,578-2,816 crore in the March quarter.

Revenue from cigarettes, at Rs8,954.94 crore, was up 4.8% year-on-year, but pre-tax profit from the segment at Rs3,258.76 crore was up 7.95%, indicating expansion in the profit margin. Revenue from packaged consumer goods at Rs2,885.76 crore was up 6.4% year-on-year and pre-tax profit for the segment at Rs55.56 crore was 29.3% up from a year ago.