ITC SECOND QUARTER PROFIT RISES 12% TO ₹2,955 CRORE

NEWDELHI: Diversified group ITC on Friday reported 11.92% rise in standalone net profit at ₹2,954.67 crore for the second quarter ended September 30, led by strong performance across segments like cigarettes, packaged consumer goods, and agribusiness. The company had posted a net profit of ₹2,639.84 crore in July-September quarter of 2017-18, ITC said in a BSE filing.

Total income during the reported quarter stood at ₹11,776.63 crore as against ₹10,258.13 crore in the year-ago period, it added.

“The company delivered a healthy performance during the quarter amid a challenging business environment and continuing pressure on the legal cigarette industry,” said ITC in a statement.

Total expenses of the Kolka ta headquarter firm were at ₹7,407.51 crore as against ₹6,313.84 crore earlier.

During the quarter, revenue from total packaged consumer goods business was up 11.25% to ₹8,186.41 crore as against ₹7,358.32 crore in the year-ago period.

ITC’s revenue from cigarettes was at ₹5,026.06 crore, up 10.36%, as against ₹4,554.21 crore in the second quarter of 2017-18.

“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,” said ITC.

FMCG-Others segment was also up 12.70% to ₹3,160.35 crore in July-September 2018 as against ₹2,804.11 crore in the year-ago period.