The cigarettes-to-hotels conglomerate ITC Ltd posted a 34 percent rise in its consolidated net profit at Rs 4,389.76 crore in the April-June quarter of FY23. Its consolidated net profit in the corresponding quarter a year ago stood at Rs 3,276.48 crore, the company said in a statement.
Sequentially, the company saw a 4.6 percent rise in net profit from Rs 4,196 crore in the January-March quarter of the previous fiscal year (FY22).
Its total revenue from operations increased by 39 percent to Rs 19,831.27 crore in the June quarter of FY23 from Rs 14,240.76 crore in the same period a year ago.
Analysts were expecting the net profit to grow anywhere between 22 percent and 25 percent.
Ebitda for the quarter under review stood at Rs 5,646.10 crore. Margin for the quarter stood at 32.7 percent. Cigarette revenues were up 29 percent YoY to Rs 6,608 crore.
Its consolidated total income came in at Rs 20,152 crore, up 37 percent, from Rs 14,687. 80 crore in the year-ago period.
Total expenses of the firm were higher at Rs 14,201.51 crore as compared to Rs 10,220.49 crore in the corresponding period a year ago.
Revenue from the hotel business came in at Rs 5,80.71 crore, up over four-fold from Rs 133.67 crore in the corresponding quarter. Simi-larly, revenue from agri-business was robust at Rs 7,492.14 crore, posting a growth of 82.29 percent.
Segmental revenue from Paperboards, Paper & Packaging business was at Rs 2,267.22 crore, up 43.35 percent YoY, the company said.
On Monday, ITC’s shares closed 1.57 percent higher at Rs 307.80 apiece on the NSE.
