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ITC saw a sharp slump in trade on Thursday. The company's April-June quarter net profit rose 18 percent year-on-year to Rs 1,891 crore, in-line with street expectations.
In an interview to CNBC-TV18, Sanjay Manyal, Research Analyst, ICICI Direct stressed that ITC's first quarter numbers clearly shows signs of a slowdown in cigarette sales volumes.
Analysts expect the company's revenue to rise 17 percent year-on-year to Rs 7,800 crore. Revenue from cigarettes is likely to increase 18-20 percent.
KR Choksey expects ITC to report a 2 percent degrowth quarter-on-quarter (growth of 18 percent year-on-year) in net profit at Rs 1888 crore.
Dolat Capital expects ITC to report a 0.7 percent degrowth quarter-on-quarter (growth of 21.2 percent year-on-year) in net profit at Rs 1942 crore.
Motilal Oswal expects ITC to report a 4.5 percent degrowth quarter-on-quarter (growth of 14.9 percent year-on-year) in net profit at Rs 1841.6 crore.
Antique Stock Broking has downgraded ITC to "hold" from "buy", saying it is not expecting any further re-rating on the stock. It has a target price of Rs 356 on the India's largest cigarettes company
ITC is expected to report a net profit of Rs 1,910 crore, up 18 percent year-on-year, while net sales are likely to increase 17 percent to Rs 8,025 crore, according to a CNBC-TV18 poll. Cigarette volumes are seen up 1.5 percent.
Varun Lohchab, managing director and co-head of research, Religare Capital Markets, says that FMCG major Hindustan Uniliver Limited (HUL) is likely to post muted volume growth in the fourth quarter on back of weak signs that can be witnessed in personal care, soaps and detergent segments.
Several analysts on Monday maintained a "buy" or equivalent rating on ITC after the cigarettes to FMCG and hotels major reported a forecast beating 21 percent year-on-year rise in third quarter net profit.
Varun Lohchab of Religare Capital Markets who tracks the fast-moving consumer goods (FMCG) space shared his outlook on that. He said, ITC Q3 numbers were in line with expectations .The PAT grwoth was a bit above expectation and even the non-tobacco FMCG growth surprised positively, he added.
Beating estimates, cigarette major ITC reported a 21 percent year-on-year rise in its third quarter net profit at Rs 2.052 crore. Boosted by a strong growth in its FMCG business the company‘s net sales grew 23 percent at Rs 7,627 crore.
In an interview to CNBC-TV18, V Srinivasan of Angel Broking gives his views on ITC's Q3 numbers. Srinivasan says the company has out-performed their expectations.
Cigarettes to hotels to FMCG major ITC will report its third quarter earnings on Friday. In the last couple of quarters, the company has seen pressure on cigarette volumes due to steep hike in prices in the wake if increased duties.
Kotak Securities has come out with its earnings estimates for FMCG sector for the quarter ended December 2012. The research firm feels companies are likely to report higher gross margins in the quarter on account of declining expenses on several raw materials.
Motilal Oswal has come out with its earnings estimates for consumer sector for the quarter ended December 2012. The research firm feels the EBITDA is likely to grow by 21.3 percent led by margin expansion in Hindustan Unilever, ITC, Asian Paints, Nestle, GSK Consumer and Marico.
Fast moving consumer goods majors in India are expected to report strong double-digit earnings growth in Oct-Dec, helped by helped by a surge in demand during the festivals, price hikes taken by some companies during the quarter and decline in cost of several raw materials.
Angel Broking has come out with earning expectations for FMCG sector for the October-December quarter of 2012. The research firm expects 3QFY2013 to be a reasonably strong quarter for its FMCG universe with top-line and bottom-line growth coming in at 15.8 percent and 11 percent respectively.
Considerable price hikes, festival season and reform measures announced by the Union Government over the past few months are likely to augur well for the fast moving consumer goods (FMCG) companies in Q3FY13.
In an interview to CNBC-TV18, Varun Lohchab, MD & Co-Head of Research, Religare Capital Markets said that from result perspective, it will not be a great quarter especially for the steel companies.
Investment bank Credit Suisse expects fast moving consumer goods companies to report moderate revenue growth in the third quarter (Oct-Dec) as pricing-led growth diminishes, even as volumes remain strong.
India‘s largest FMCG makes, Hindustan Unilever (HUL) would announce its second quarter earnings today. Sanjay Singh of Standard Chartered Securities expects the company‘s volumes to grow by 8 percent in Q2. However, he cautions that its packaged food category may see some slowdown.
India's largest cigarettes maker ITC's second quarter net profit rose better-than-expected 21% year-on-year to Rs 1,836 crore, helped especially by strong growth in its other fast moving consumer goods and agri business, sending its shares up to a new 52-week high.
In an interview to CNBC-TV18 Sanjay Manyal, research analyst at ICICI Direct reviewed the second quarter earnings of FMCG major ITC.
ITC, India‘s largest cigarette maker declared its results today with a 21% year-on-year profit. The results have sent ITC‘s shares up to a 52-week new high . V Srinivasan from Angel Broking says the profit is much better than what they had factored in.