Economy

ITC fourth-quarter net profit up 9.8 percent to Rs 2933 crore

ITC fourth-quarter net profit up 9.8 percent to Rs 2933 crore”

In comparison, it had reported a 16.75 per cent increase in its net profit at Rs 3,090.20 crore for the quarter ended December 31, 2017.

The Kolkata-based company ITC Ltd is hopefully looking to register year-on-year (YoY) increase of 6.36 percent in its annual net profit to Rs 2,839 crore, as reported by a poll of analysts at Reuters.

On a comparable basis, gross sales value (net of rebates/discounts) stood at Rs. 67081.92 crore, representing a growth of 4.5% driven mainly by the branded packaged foods, personal care and the education and stationery products businesses offset by decline in agri business revenue.

Total income of the company dipped marginally 0.70 per cent to Rs 11,886.02 crore in Q4FY18 over Rs 11969.66 crore in Q4FY17.

"FMCG-Cigarettes performance reflects the severe pressure on legal cigarette industry volumes due to steep escalation of tax incidence under the GST regime even as illegal trade grows unabated", the company said. Pre-tax profit from other consumer goods jumped to Rs91.21 crore from Rs55.56 crore in the same period a year ago.

The company had posted a net profit of Rs 2,669.47 crore in the January-March period a year ago, ITC said in a BSE filing. However, hotel business saw uptick of 5.56% to Rs 408 crore this quarter.

The board of directors of the company on Wednesday recommended a dividend at 120 per cent i.e. Rs 1.20 per equity share of face value of Re 1 each for the financial year ended March 31. It was at Rs 14,882.75 crore in the corresponding period of the last fiscal.

At NSE, shares of the company went up by 1.41 per cent to close at Rs 285.85. Also, agri business slumped by 5.74% yoy to Rs 1,808.31 crore and paperboards & packaging business dropped by 5.24% to Rs 1,300.81 crore.

At 2:22 PM Shares of ITC today were trading 1.5 percent higher at 286.10 rupees on the National Stock Exchange.



Like this

loading...
loading...

Latest


17 May 2018
IPL: Kolkata Knight Riders ask Rajasthan Royals to bat first
Tripathi was dropped off the first ball of the match by Rana at wide slip-off Mavi, who leaked only two runs in the opening over. Stokes returned to bowl the 16th over and added to his tally the wicket Lynn, to eventually finish with figures of 4-1-15-3.

17 May 2018
Kent State graduate makes a statement with gun-toting photo
Do you not see the problem here? "Don't talk about gun control when you can't even get your facts straight", she wrote. Her tweet's caption reads, "Now that I graduated from Kent State - I can finally arm myself on campus".

16 May 2018
Barcelona FC Arrives In South Africa
Now it will be a different game", said Eymael. "But we say that Sundowns are the "Brazilians" from South Africa‚ so we will see".

16 May 2018
Ramazan moon sighted, holy month to begin tomorrow
The first fast of the month of Ramazan is likely to be observed on Thursday. In Pakistan , Ramazan usually begins a day after it starts in Saudi Arabia.

16 May 2018
Shenmue 3 has also been delayed to 2019
Shadow of the Tomb Raider cost between $75 million and $100 million to develop , according to Eidos Montreal head David Anfossi. This is a bit of a setback considering that the game has been in and out of development over the last decade.

16 May 2018
Alexa gains eight new voices - but they're for developers for now
We'll select a subset of the skills that apply, and will provide more information to those selected. It's all part of Amazon Polly, which was created for Alexa developers back in 2017.

16 May 2018
Apple seeks $1.5 billion from Samsung in lawsuit
Samsung's pre-iPhone devices had keypads and smaller screens, while later models are screen-focused with app icons and no keypad. That total was diminished to about $400m after the principal retrial and other lawful endeavors by the Galaxy cell phone creator.

16 May 2018
'Designated Survivor' cancellation: ABC wasn't "confident about the creative path"
Sutherland stars in the series alongside Natasha McElhone, Adan Canto, Italia Ricci, LaMonica Garrett, Tanner Buchanan, Kal Penn, Maggie Q and Paulo Costanzo .

16 May 2018
Sports betting ruling has ripples for USA tribes with casinos
Supreme Court's decision Monday to toss the federal ban on sports gambling will let states allow the wagering. It's being called a landmark Supreme Court decision and a historic day for American sports, as the U.S.

16 May 2018
Battlefield V Reveal Coming Next Week
Should this be the case, then the game could be taking a cue from Activision and Sledgehammer Games' Call of Duty: WW2. Last week, EA and DICE hid the reveal date for Battlefield 2018 inside a cleverly crafted Battlefield 1 Easter Egg .