ITC Q2 Results: Profit rises 10% YoY to Rs 4,927 crore, beats estimates
ITC Ltd on Thursday reported a 10.3% year-on-year (YoY) rise in net profit for the quarter ended September to Rs 4,927 crore. This was higher than the ETNow poll of Rs 4,906 crore.
Revenue from operations, excluding excise duty, increased 2.6% YoY to Rs 16,550 crore.
Operating profit, calculated as earnings before interest, taxes, depreciation and amortization (EBITDA), rose a mere 1% YoY Rs 4,886.54 crore. Operating margin shrank 44 basis points on year to 29.53%.
Cigarette business revenue grew 10% on year in the quarter to Rs 7,658 crore. The business made up for over 46% of the total revenue of ITC.
The non-cigarette FMCG business revenue grew 8.3% on year to Rs 5,292 crore.
The hotels business reported a growth of 21% YoY to Rs 649.40 crore, while the agriculture and paper and paperboards business segments reported a decline in revenue.
Paper and paperboards business revenue declined 9.5% on year to Rs 2,070 crore, while the agriculture business reported a decline of nearly 2% in revenue to Rs 3,931 crore.
