ITC Ltd reports 6.6% jump in Q4 revenue
Its profit rose 21.4% from the year ago period helped by increase in demand for cigarettes and consumer goods
Conglomerate ITC Limited on Thursday reported a 6.6% jump in its fourth quarter standalone revenue from operations at Rs 17,506.08 crore compared to Rs 16,426.00 crore from a year ago period.
The company’s net profit rose 21.4% year over year to Rs 5,086.86 crore while its standalone expenses marginally grew to Rs 11,730.45 crore from a year ago figure of Rs 11,658.05 crore.
The FMCG segment revenue was up 16.2% to Rs 12,300.78 crore from Rs 10, 585.34 crore in the year ago period. The jump in revenue is due to a higher demand for its cigarettes and other consumer goods as India’s largest cigarette maker sees growth from these two categories.
The revenue for the company’s hotel segment also more than doubled as leisure travel scooped higher.
On a yearly basis, revenue from operations rose 17.6% to Rs 70,251.28 crore for the year ended March 31, 2023.
