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ITC Q1 results: Net profit rises 34% to ₹4,390 cr; beats estimates | Mint – Mint

Diversified conglomerate ITC Limited on Monday reported a year-on-year consolidated net profit of 4,389.76 crore, up 33.97% for the April-June quarter (Q1FY23). It reported consolidated net profit of 3,276.48 crore in the year-ago period.

Sequentially, the net profit of the cigarettes-to-hotels conglomerate jumped 4.6% from 4,196 crore in the March quarter (Q4FY22).

Total revenue from operations of the FMCG major increased by 39% to 19,831.27 crore from 14,240.76 crore during the corresponding period a year ago.

Analysts expected the net profit to grow anywhere between 22.4% and 25.3% to 3,687.3 crore and 3,775 crore, respectively.

Ebitda for the quarter under review stood at 5,646.10 crore. Margin for the quarter stood at 32.7%. Cigarette revenues were up 29% YoY to 6,608 crore.

The company’s consolidated total income stood at 20,152 crore, up 37%, from 14,687. 80 crore in the year-ago period.

Total expenses of the firm were higher at 14201.51 crore as compared to 10220.49 crore in the corresponding period of last fiscal.

Among segments, FMCG revenue stood at 4,451 crore as compared to 3,725 crore, up 19.5% YoY. The revenue from hotels came in at 554 crore compared with 128 crore, up 332.8% YoY. The revenue from paper segment came in at 2,267 crore against 1,583 crore, up 43.2% YoY.

On Monday, ITC’s scrip closed 1.57% higher at 307.80 apiece on the NSE.

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