ITC Q4 Results: Profit falls marginally to Rs 5,120 crore, misses estimates

economictimes.indiatimes.com:

ITC Ltd on Thursday reported a 1% fall in its consolidated net profit at Rs 5,120 crore in the March quarter. The same stood at Rs 5,175 crore in the last year quarter.

The profit figure was marginally below the Street estimate of Rs 5,149 crore.

Revenue from operations increased 2% year-on-year (YoY) to Rs 19,446 crore in the January-March 2024 period, compared with Rs 19,058 crore in the corresponding period of the previous year.

The company's Board has also recommended a final dividend of Rs 7.50 per share for the financial year ended March. The record date for the final dividend is fixed as June 4 and the same would be paid between July 29-31.

On a standalone basis, the company reported a profit of Rs 5,020 crore in the fourth quarter, while operating profit (EBITDA) was at Rs 6,379 crore.

Segment-wise, revenue from the cigarettes business increased 7% YoY to Rs 8,689 crore in the March quarter, compared with Rs 8,092 crore in the last year quarter.

The profit before tax (PBT) for the cigarettes business rose 5% YoY to Rs 5,157 crore in the December quarter.

The FMCG-others business reported revenues of Rs 5,308 crore in the fourth quarter, up 7% from Rs 4,951 crore posted in the corresponding quarter of last year. The PBT for the same declined 5% to Rs 480 crore.