ITC's 4th quarter profit rises 6.2 per cent
FMCG major ITC on Wednesday reported a Rs 3,797 crore profit in the fourth quarter (January-March) of the financial year 2019-20. The company had posted a Rs 3,481.90 crore profit in the corresponding quarter last year, thus signalling a 6.2 per cent rise in net profit on a year-on-year basis. However, ITC's revenue from operations witnessed a dip of 1.8 per cent from Rs 11,633 crore last year to Rs 11,420 crore this year.
The company has also announced a dividend of Rs 10.15 per share.
As for the impact of the COVID-19 pandemic on the company's business, ITC, in a release said, "Just as the business environment was showing signs of an incipient recovery in the beginning of the fourth quarter, the onset of Covid-19 pandemic changed the situation dramatically."
However it added that it does not expect "any significant impact" on property, plant & equipment, inventories and other such assets.
Meanwhile, the ITC stock ended with losses on Friday. The stock had opened in the green in morning trade but finished at Rs 195.10 apiece, down 3.54 per cent.
