ITC Limited on May 18 reported a 21.4 percent year-on-year growth in standalone net profit at Rs 5,086.9 crore for the March quarter. Net profit stood at Rs 4,190.9 crore in same period last year.
Revenue from operations (excluding excise duty) for the company went up 5.6 percent YoY to Rs 16,398 crore from Rs 15,531 crore in the year-ago period. Both topline and bottomline beat analysts' estimates.
According to a poll of brokerages, the cigarette-to-soap maker was expected to report a net profit of Rs 4,764.4 crore and revenue of Rs 16,152 crore.
On the operating side, ITC's EBITDA came in at Rs 6,209.3 crore, up 19 percent YoY. EBITDA margins improved to 37.9 percent from 33.6 percent in the year-ago period.
Along with the results, the company also announced a final dividend of Rs 6.75 and special dividend of Rs 2.75 per equity share.
Coming to segmental performance, the cigarette business grew 14 percent YoY to clock revenue of Rs 7,355.83 crore in the March quarter. FMCG revenue jumped 19 percent to Rs 4,944.95 crore and hotels business revenue almost doubled to Rs 781 crore.
Along expected lines, agri business revenue declined 18 percent to Rs 3,578.6 crore and paperboards. Meanwhile, paperboards segment saw 4 percent growth to Rs 2,221 crore.
After the results, ITC shares closed at Rs 418.75 on the NSE, lower by 2 percent.
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