ITC net profit jumps 12.69 pc to Rs 3,436 crore

Diversified conglomerate ITC Ltd on Friday reported a 12.69 per cent rise in its consolidated net profit at Rs 3,436.51 crore for the first quarter ended June 2019, driven mainly by FMCG and agri-business segments.

The company had posted a net profit of Rs 3,049.38 crore in the April-June quarter of the previous fiscal.

Net sales during the quarter under review stood at Rs 12,532.31 crore as against Rs 11,745.68 crore in the corresponding period a year ago, higher by 6.69 per cent, ITC said in a regulatory filing.

"The company posted a steady performance during the quarter amidst sluggish demand conditions. Gross revenue for the quarter stood at Rs 11,361.35 crore, representing a growth of 6 per cent, driven mainly by paperboards, hotels and FMCG-others (excluding the lifestyle retailing business)," said ITC.

Total expenses for the said period were at Rs 8,113.67 crore as compared with Rs 7,667.62 crore, up 5.81 per cent.

During the quarter, revenue from total FMCG business was up ...