ITC Q4 net profit rises 18.72% to Rs 3,482 crore

Diversified group ITC Ltd Monday reported an 18.72 per cent increase in standalone net profit at Rs 3,482 crore for the fourth quarter ended March 31, riding on strong performance from its paperboards, paper and packaging, hotels and FMCG businesses.

The company, which stated that cigarettes segment continued to be under pressure due to high taxation, had posted standalone net profit of Rs 2,932.71 crore in the January-March period a year ago.

The Kolkata-based firm said its total income during the quarter under review rose 14.26 per cent to Rs 12,946.21 crore, compared to Rs 11,329.74 crore in the same period last fiscal.

During the quarter, the company said there was robust growth in gross revenue driven by trading opportunities in oilseeds, wheat and coffee in agri business, higher volumes and improved realisation in paperboards and improvement in room revenue in hotels.

Besides, enhanced scale and product mix enrichment helped FMCG-Others (non-cigarette) grow EBIDTA by 31 per cent