ITC Q4 profit grows 19% to ₹3,482 crore; appoints Sanjiv Puri as new chairman
1 min read . Updated: 13 May 2019, 03:12 PM IST- ITC today reported a 19% growth in net profit
- Sanjiv Puri is the new chairman of ITC
FMCG major ITC today reported a 18.72% growth in net profit for the March quarter. The net profit increased to ₹3,482 crore as compared to ₹2932 crore in the same quarter of the previous year.
Revenue for the quarter came in at ₹12,206 crore compared with ₹10,586.80 crore in the year-ago period. The EBITDA has increased to ₹4,572 crore against ₹4,144 crore in the year-ago period.
ITC has appointed Sanjiv Puri as the new chairman of the company with effect from today. Currently, Puri holds the position of managing director in the company.
Puri's elevation comes after noted industry leader and erstwhile ITC Chairman Y C Deveshwar passed away on Saturday.
"The Board of Directors of the company at the meeting held today appointed Sanjiv Puri, Managing Director, also as the Chairman of the Company with effect from May 13, 2019. Consequently, Puri's new designation is Chairman and Managing Director of the company," ITC said in a regulatory filing.
ITC's total income during the quarter under review rose 14.26 per cent stood to ₹12,946.21 crore, compared to ₹11,329.74 crore in the same period last fiscal, ITC said in a BSE filing.
Revenue from total FMCG business, including cigarettes, stood at ₹8,759.84 crore in January-March 2019, as against ₹7,988.29 crore in the corresponding quarter previous fiscal.
During the quarter, revenue from cigarettes was ₹5,485.92 crore. It was ₹4,936.45 crore in the fourth quarter of 2017-18.
With inputs from PTI