Diversified conglomerate ITC on Thursday reported a 12.69% year-on-year (y-o-y) rise in its standalone net profit to Rs 4,156.20 crore for the third quarter ended December 31, 2021, as its gross revenue from sale rose 31.25% y-o-y.
The cigarette-to-FMCG-to-hotel major had posted a Rs 3,687.88 crore net profit for the third quarter last fiscal. Gross revenue from sales for the period October-December last year stood at Rs 16,633.86 crore as against Rs 12,673.31 crore for the same period the previous year, according to the company’s stock exchange filing. During the period under review, the conglomerate’s tax expenses rose 12% y-o-y at Rs 1,335.83 crore.
During the third quarter of this fiscal, revenue from the company’s cigarette business rose 13.56% y-o-y at Rs 6,244.11 crore, while operating profit from the segment increased by 14.42% y-o-y at Rs 3950.71 crore during the period, according to the stock exchange filing. During the quarter under review, non-cigarette FMCG business registered 9.26% y-o-y growth in its revenue to Rs 4090.56 crore, while the segment posted a marginal 1% y-o-y growth in operating profit at Rs 241.87 crore during this period.
Hotels business posted a whopping 101.27% y-o-y increase in its revenue at Rs 473.39 crore, while the segment posted an operating profit of Rs 50.56 crore against an operating loss of Rs 67.33 crore in the third quarter last fiscal.
The company’s board recommends an interim dividend of Rs 5.25 per share for the financial year ending March 31, 2022.
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