ITC rose 1.62% to Rs 238.10 after the company's standalone net profit rose 12.70% to Rs 4,156.20 crore on 32.06% increase in net revenue to Rs 15,689.29 crore in Q3 December 2021 as compared with Q3 December 2020.
EBITDA improved by 18.2% to Rs 5,102 crore in Q3 FY22 from Rs 4,315 crore in Q3 FY21.Profit before tax in the third quarter stood at Rs 5,492.03 crore, up by 12.53% from Rs 4,880.43 crore reported in the same period last year.
Total FMCG segment revenue increased by 12% YoY to Rs 10335 crore during the period under review. In the FMCG segment, cigarettes revenue rose by 14% YoY to Rs 6244 crore while the revenue from other FMCG segment improved by 9% YoY to Rs 4091 crore during the quarter.
Hotel business revenue stood at Rs 473 crore (up 101% YoY), agri-business revenue was at Rs 4962 crore (down 100% YoY) and paperboards, paper & packaging revenues were at Rs 2046 crore (up 39% YoY) in the third quarter of FY22.
The board recommended an interim dividend of Rs 5.25 per share for the Financial Year ending 31st March 2022.
The company said that economic activity gathered further momentum during the quarter with the decline in Covid caseload intensity. Enhanced vaccination coverage coupled with uptick in business and consumer sentiments led to broad-based growth across markets and channels even as leading indicators reflected deceleration in the pace of rural demand recovery. However, unprecedented inflation in commodity prices, increase in energy costs and persistent global supply chain disruptions weighed on the macroeconomic environment.
The third wave of the pandemic has led to a surge in Covid cases in the country and temporarily halted the recovery momentum, particularly in the hotels business. While mobility restrictions and restricted hours of business have impacted categories with higher salience of out-of-home consumption, the impact is expected to be limited in view of the progressive reduction in Covid cases being recorded across various parts of the country.
Meanwhile, ITC Infotech's PAT rose 48.3% to Rs 454 crore on 21.3% increase in revenue to Rs 2181 crore in Q3 FY22 over Q3 FY21. EBITDA jumped 41.9% to Rs 599 crore during the period under review. EBITDA margin stood at 27.5% in Q3 FY22 as against 23.5% in Q3 FY21.
ITC has a diversified presence in FMCG, hotels, packaging, paperboards & specialty papers and agri-business.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU