ITC Q4 net profit rises 9.28 pc to Rs 3,926 cr; sales down 4.93 pc

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Diversified group ITC Ltd on Friday reported 9.28 per cent increase in its consolidated net profit to Rs 3,926.46 crore in the fourth quarter ended March 31
Diversified group

New Delhi, Jun 26 (PTI) Diversified group ITC Ltd on Friday reported 9.28 per cent increase in its consolidated net profit to Rs 3,926.46 crore in the fourth quarter ended March 31.

The company had posted a consolidated net profit of Rs 3,592.80 crore during January-March quarter of the previous fiscal, ITC said in a regulatory filing.

However, its revenue from operations was down 4.93 per cent at Rs 12,560.64 crore during the quarter under review as against Rs 13,212.19 crore in the corresponding period previous fiscal.

Total expenses of the Kolkata-based firm were at Rs 8,484.93 crore in Q4 FY 2019-20, down 3.14 per cent as against Rs 8,760.36 crore.

During the quarter, revenue from total FMCG business slipped 4.18 per cent to Rs 8,940.78 crore from Rs 9,331.05 crore in the year-ago period.

Revenue from cigarette dipped 4.94 per cent to Rs 5,750.44 crore as against Rs 6,049.50 crore a year ago.

FMCG-others segment also declined 2.77 per cent to Rs 3,190.34 crore in Q4 FY 2019-20 compared to Rs 3,281.55 crore in the year-ago period.

ITC’s FMCG-others segment consists of branded packaged foods as staples, snacks, meals, dairy and beverages, confections, apparel, education and stationery products, personal care products, safety matches and incense sticks.

The company said its hotel business fell 6.68 per cent to Rs 494.76 crore during the quarter as compared to Rs 530.19 crore in the same period preceding fiscal.

Revenue from agribusiness segment declined 10.04 per cent to Rs 1,899.01 crore as against Rs 2,11.103 crore in the March quarter previous fiscal.

Paperboards, paper and packaging segment slipped 5.10 per cent to Rs 1,458.87 crore, from Rs 1,537.36 crore earlier.

Revenue from others segment was up 17.12 per cent to Rs 575.68 crore as against Rs 491.50 crore.

For the full 2019-20, ITC’s net profit was up 21.52 per cent at Rs 15,584.56 crore. It had a net profit of Rs 12,824.20 crore in the previous year.

Its revenue from operations in the fiscal stood at Rs 51,393.47 crore, up 3.07 per cent. It was Rs 49,862.11 crore in 2018-19.

The company said during the fiscal, it posted a robust growth in FMCG-others segment EBITDA by 32.8 per cent to Rs 914 crore driven by enhanced scale, product mix enrichment and strategic cost management initiatives, “notwithstanding increase in input costs, sustained investments in brand building, gestation costs of new categories, start-up costs of new facilities and impact due to disruptions following the outbreak of COVID-19 pandemic”.

Meanwhile, ITC in a separate filing informed the BSE that its board in a meeting held on Friday has recommended a dividend of Rs 10.15 per ordinary share of Re 1 each for the financial year ended March 31, 2020.

Shares of ITC on Friday settled at Rs 195.10 on BSE, down 3.54 per cent from previous close.

Source:PTI

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