Sustainable volume growth in cigarettes and improved profitability in FMCG business key to its rerating
The company's net sales grew 10 percent YoY to Rs 7,339 crore, lower than analysts expectation of sales of Rs 7,800 crore.
Cigarettes to hotels major ITC remains a favourite with most analysts after its better-than-expected first quarter numbers. This is unlike other FMCG majors like Hindustan Unilever and Colgate, which have drawn mixed responses after their June quarter numbers.
Cigarettes to hotels major ITC beat analysts’ expectations as first quarter net profit rose 24.3% year-on-year to Rs 1,330 crore, on the back of sales growth across segments.