AgenciesNEW DELHI – Shares of jumped 4.7 per cent in early trade on Thursday as the FMCG major reported an 11.60 per cent rise in its consolidated net profit to Rs 4,259.68 crore for the fourth quarter ended March 2022 driven by all-round growth across verticals.
The company had posted a net profit of Rs 3,816.84 crore during the January-March quarter of the previous fiscal.
ITC’s scrip climbed to 52-week high of Rs 279 as against Rs 266.50 at previous close on the BSE. Meanwhile, the BSE Sensex and NSE Nifty were trading 2 per cent lower each.
ITC’s net profit for the quarter under review came in higher than an ET Now poll projection of Rs 4,118 crore.
Revenue from operation for the quarter rose 16.02 per cent YoY to Rs 16,426 crore from Rs 14,156.98 crore in the same quarter last year.
The board of the company recommended a final dividend of Rs 6.25 per share for the financial year ended March 2022. It will be paid between July 22-26, 2022. This is in addition to the interim dividend of Rs 5.25 per share declared in February.
Revenue from cigarette business grew 9.96 per cent to Rs 6,443.37 crore. Non-cigarette FMCG revenue stood at Rs 4,141.97 crore, up 12.32 per cent from the corresponding quarter.
In respect of non-cigarette FMCG, earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter ended March was Rs 374.69 crore compared to Rs 305.98 crore in the same quarter last year.
The company’s hotel business posted a strong 35.39 per cent revenue growth. Revenue from the agribusiness climbed 29.60 per cent, the company said.
The company had posted a net profit of Rs 3,816.84 crore during the January-March quarter of the previous fiscal.
ITC’s scrip climbed to 52-week high of Rs 279 as against Rs 266.50 at previous close on the BSE. Meanwhile, the BSE Sensex and NSE Nifty were trading 2 per cent lower each.
ITC’s net profit for the quarter under review came in higher than an ET Now poll projection of Rs 4,118 crore.
Revenue from operation for the quarter rose 16.02 per cent YoY to Rs 16,426 crore from Rs 14,156.98 crore in the same quarter last year.
The board of the company recommended a final dividend of Rs 6.25 per share for the financial year ended March 2022. It will be paid between July 22-26, 2022. This is in addition to the interim dividend of Rs 5.25 per share declared in February.
Revenue from cigarette business grew 9.96 per cent to Rs 6,443.37 crore. Non-cigarette FMCG revenue stood at Rs 4,141.97 crore, up 12.32 per cent from the corresponding quarter.
In respect of non-cigarette FMCG, earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter ended March was Rs 374.69 crore compared to Rs 305.98 crore in the same quarter last year.
The company’s hotel business posted a strong 35.39 per cent revenue growth. Revenue from the agribusiness climbed 29.60 per cent, the company said.
now!Read More News on
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Pick the best stocks for yourself
Powered by