ITC Q4 results review: Should you buy, sell or hold the FMCG major? Here's what 5 top brokerages say
₹435 and ₹515.The stock declined around 1 percent to its day's low of ₹436.90 in intra-day deals today, Friday, May 24. It has now corrected 12.5 percent from its peak of ₹499.60, hit in July last year but has advanced over 9 percent from its 52-week low of ₹399.30, hit on March 12, 2024.The stock has been mostly flat, up just 1.5 percent in the last 1 year, and has fallen over 5 percent in 2024 YTD.
The stock has been completely flat, up only half a percent in May, after a 1.7 percent rise in April and a 5.4 percent gain in March. However, it was in the red in the first two months of the year, down 8 percent in February and 4.4 percent in January.ITC reported a 1.3 percent YoY decline in its standalone net profit to ₹5,020.20 crore for the quarter ending March 2024, slightly below the ₹5,150 crore estimated by analysts in a Bloomberg poll.Despite weak demand, revenue from operations grew by 1.4 percent to ₹17,752.87 crore, surpassing the expected ₹17,191 crore.
However, revenues from the agriculture, paperboards, and paper and packaging sectors declined, while overall expenses rose by 2.4 percent to ₹12,017.71 crore year-on-year.For the full year, the company’s gross revenue remained flat at ₹69,446.20 crore, while profit was up 8.9 percent to ₹20,422 crore.Its board also recommended a final dividend of ₹7.50 per share.“While consumption demand remained subdued in Q4 FY24, improving macro-economic indicators, prospects of a normal monsoon and green shoots witnessed in rural demand recovery after several quarters, augur well for revival in consumption demand in the near-term. With its focus on consumer centricity, purposeful innovation, agility, and execution excellence, the company remains confident of navigating the
. Read more on livemint.com
