News By/Courtesy: Jyoti Goel | 30 Oct 2018 12:51pm IST

HIGHLIGHTS

  • ITC Ltd. with a rise of 11.9% registered a profit of 2954 crores at the end of the second quarter on a revenue of 11272.5 crores.
  • The revenue included cigarettes too.
  • The revenues were mainly fetched from FMCG, others being agri based business and hotels.The shares fell by 2.3% in BSE and 2.7% in NSE.

ITC Ltd. with a rise of 11.9% registered a profit of 2954 crores at the end of the second quarter on a revenue of 11272.5 crores. The revenue included cigarettes too. The revenues were mainly fetched from FMCG, others being agri based business and hotels. The shares fell by 2.3% in BSE and 2.7% in NSE. Revenues rose in the FMCG segment by 12.7%. This was due to a number of factors including product-mix enhancement, cost management initiatives, enhanced scale, increased input costs, new project building gestation etc. ITC is heading new segments too. The 252 room Park Hyatt Resort Goa is now owned by ITC. Profitability also rose due to product mix enrichment and higher realization in the paper boards, paper and packaging section. Strategic advancements and innovation in imported pulp substitution and pulp yielding also benefited the same. Though the company told that cigarette section is being affected by the Andhra 2017 leaf crop price rise and legal pressure on the cigarette industry. Lower export incentives also added to the same. Edelman Securities Ltd. told that the 5% rise in the cigarette volume has been far from their expectations despite margins being affected by the Kerala flood. Overall the profit-making line has been well on track.

Section Editor: Priyanshu Gupta | 30 Oct 2018 12:54pm IST


Tags : #India#Business#ITC

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