ITC group posted their quarterly financial report with 11.92 per cent increase in standalone net profit at Rs 2,954.67 crore for the July-September quarter, on the back of strong performance across segments like cigarettes FMCG, and agribusiness. The company had earlier reported a net profit of Rs 2,639.84 crores in September-end quarter of 2017-18.
ITC said in a BSE filing that the total income during the quarter under review stood at Rs 11,776.63 crores as against Rs 10,258.13 crore in the year-ago period. Total expenses of the diversified group were reported at Rs 7,407.51 crores as against Rs 6,313.84 crores in the Q2 FY18.
During the September-end quarter, revenue from cigarettes was up 10.36 per cent at Rs 5,026.06 crore, as against Rs 4,554.21 crore whereas revenue from total FMCG business was reported at Rs 8,186.41 crores, 11.25 per cent higher as compared to Rs 7,358.32 crore in the year-ago same quarter period.
ITC in a statement release said, “The company delivered a healthy performance during the quarter amid a challenging business environment and continuing pressure on the legal cigarette industry.”
ITC added, “Despite an extremely challenging operating environment, the business consolidated its leadership position in the industry and continued to improve its standing in key competitive markets across the country.”
Also, ITC’s hotel business during the quarter under review was reported at Rs 362.55 crores as compared to Rs 300.18 crores along with revenue from agribusiness segment, posted at Rs 2,219.73 crores as against Rs 1,967.98 crores (up 12.79%) to in the corresponding period last fiscal.