ITC Net Profit Rises 14% To Rs 3,697 Crore In September Quarter, Revenue Up 11%

ITC Q2 Results: Net profit rose 14 per cent to Rs 3,697 crore in September quarter

FMCG-to-hotel major ITC Limited announced its July-September quarter results for the financial year 2021-22, reporting a net profit of Rs 3,697 crore on a standalone basis, compared to Rs 3,252.62 crore in the corresponding period last year, marking a growth of 14 per cent year-on-year.

The cigarette segment’s volumes registered recovery with exit volumes at near pre-COVID levels in the September quarter, according to a regulatory filing by ITC to the stock exchanges today. The company’s revenue from operations in the second quarter of the current fiscal stood at Rs 13,356.15 crore. compared to Rs 12,018.91 crore, registering a growth of 11.12 per cent year-on-year.

The cigarette segment reported a 10.2 per cent growth in revenue at Rs 5,642 crore compared to Rs 5,121 crore in the corresponding quarter last year. The revenue of FMCG- Others segment in the September quarter increased 23 per cent year-on-year, and eight per cent sequentially. The segment’s ‘Out-of-Home’ consumption registered a sharp rebound tracking and improved mobility even as ‘at-home’ consumption moderated.

In the branded packaged foods businesses, ‘Yippee!’ Noodles’ portfolio launched ‘YiPPee!’ Max Masala in select markets – customised to regional tastes and preferences. ‘Sunfeast’ Biscuits and Cakes range expanded with the launch of ‘Sunfeast Dark Fantasy Vanilla Fills’ and ‘Bounce Fills’ – Orange Vanilla, Strawberry Vanilla and Choco Creme.

The revenue of the hotel business reported a jump of 2.6 times at Rs 295 crore compared to Rs 82 crore in the year-ago period. The agribusiness revenues fell seven per cent to Rs 2,776 crore, compared to Rs 2,985 crore in the corresponding period last year.

Paperboards’ segment volumes hit a record high while revenue for the segment rose 25.4 per cent to Rs 1,830 crore, compared to Rs 1,459 crore in the year-ago period.

On Wednesday, October 27, shares of ITC settled 0.68 per cent higher at Rs 238.40 apiece on the BSE. ITC opened on the BSE at Rs 240, registering an intra day high of Rs 241.25 and an intra day low of Rs 236.20, throughout the trading session today.

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