ITC Q1 results: Net profit rises 34% to ₹4,390 cr; beats estimates
Premium- ITC Q1 results: Total revenue from operations of the FMCG major increased by 39% to ₹19,831 crore from ₹14,241 crore during the corresponding period a year ago
Diversified conglomerate ITC Limited on Monday reported a year-on-year consolidated net profit of ₹4,389.76 crore, up 33.97% for the April-June quarter (Q1FY23). It reported consolidated net profit of ₹3,276.48 crore in the year-ago period.
Sequentially, the net profit of the cigarettes-to-hotels conglomerate jumped 4.6% from ₹4,196 crore in the March quarter (Q4FY22).
Total revenue from operations of the FMCG major increased by 39% to ₹19,831.27 crore from ₹14,240.76 crore during the corresponding period a year ago.
Analysts expected the net profit to grow anywhere between 22.4% and 25.3% to ₹3,687.3 crore and ₹3,775 crore, respectively.
Ebitda for the quarter under review stood at ₹5,646.10 crore. Margin for the quarter stood at 32.7%. Cigarette revenues were up 29% YoY to ₹6,608 crore.
The company's consolidated total income stood at ₹20,152 crore, up 37%, from ₹14,687. 80 crore in the year-ago period.
Total expenses of the firm were higher at ₹14201.51 crore as compared to ₹10220.49 crore in the corresponding period of last fiscal.
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On Monday, ITC's scrip closed 1.57% higher at ₹307.80 apiece on the NSE.
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