ITC Q2 net up 18.7% at Rs 679.6cr

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ITC has declared its second quarter results. The company's Q2 net profit was up 18.7% at Rs 679.6 crore (Rs 6.79 billion) from Rs 572.3 crore (Rs 5.72 billion).

Its revenues stood at Rs 2,888 crore (Rs 28.88 billion) as compared with Rs 2,183.2 crore (Rs 21.83 billion), YoY. The other income was at Rs 79.5 crore (Rs 795 million) from Rs 78.1 crore (Rs 781 million).

Its OPM was at 33.7% versus 37.6%. On segment basis, the cigarettes business is up 13.9%, hotels business has seen a rise 30.5%, FMCG business has seen a growth of 65.9%, the agri business was up 86.6% and paperboards, paper & packaging was up 11.1%.

According to CNBC-TV18 estimates, its net sales were expected to go up 21.4% at Rs 2,649.9 crore (Rs 26.49 billion) from Rs 2,183.2 crore (Rs 21.83 billion). Its operating profit was seen going up 17.4% at Rs 962.6 crore (Rs 9.62 billion) from Rs 819.8 crore (Rs 8.19 billion). The operating profit margin was seen down at 36.4% versus 37.6% The company's net profit was expected to go up 17.3% at Rs 671.5 crore (Rs 6.71 billion) from Rs 572.3 crore (Rs 5.72 billion). Its EPS was seen flat at Rs 1.74 versus Rs 1.73.