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ITC Q3 PAT seen up 17.3% at Rs 1630 cr
ITC, the biggest cigarette manufacturer in India, is expected to report a profit after tax of Rs 1,630 crore in the third quarter of FY12, a growth of 17.3% as compared to Rs 1,389.1 crore in a year ago quarter.
ITC , the biggest cigarette manufacturer in India, is expected to report a profit after tax of Rs 1,630 crore in the third quarter of FY12, a growth of 17.3% as compared to Rs 1,389.1 crore in a year ago quarter.
Sales are seen going up by 14.2% to Rs 6,230 crore from Rs 5,453.3 crore year-on-year. Operating profit margin (OPM) too is likely to be improved at 36.9% versus 36.11% during the same period.
On quarter-on-quarter basis, company's sales growth may be 4.3% and profit after tax is likely to grow 7.6%.
Expectations
* Cigarette volume growth momentum expected to sustain
* Expect 6-7% volume growth after a strong 8% last quarter
* Price hikes taken in Q2 will continue to drive margins YoY
* Market expecting a 100bps improvement in EBIT margins
* Non Tobacco FMCG sales expected to be up over 20%
* Losses on non tobacco FMCG to be down over 15% YoY
* Hotels to be the only drag on overall margins
* Paper boards and agriculture business seen largely stable
ITC: All eyes on Budget
* ITC hiked prices again at December end in preparation of the budget
* Prices of flag ship brand 'Gold Flake' hiked by 15%
* Near certainty of an increase in excise duty in the budget
* Quantum of excise hike the key stock driver in the near term
