ITC reports 30% rise in Q1 net profit at Rs 3,343 crore

Cigarette-to-hotel conglomerate ITC Ltd on Saturday reported 30 per cent rise in consolidated net profit at Rs 3,343 crore for the first quarter of current financial year (Q1FY22). The same was Rs 2,567 crore in the June quarter of last year.

Its revenue from operations rose 36 per cent per cent to Rs 14,240 crore as against Rs 10,478 crore in the year-ago period.

However, on a sequential basis, the profit after tax (PAT) fell 12 per cent. It was Rs 3,816 crore during the March quarter (Q4FY21).

Segment wise, the revenue from the FMCG-cigarette business came in at Rs 5,802 crore, up 34 per cent from Rs 4,330 reported in the last year period. The profit before tax (PBT) of cigarette business too rose 36.5 per cent at Rs 3,461 crore in the first quarter.

On Friday, ITC’s scrip traded 3 per cent higher, its sharpest intra-day gain in two months ahead of the results, before eventually closing 2.63 per cent higher at Rs 212.45 on NSE.

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