ITC reaps rewards from diversification

NEW DELHI: Over the years, ITC Ltd has transformed itself into an umbrella group that offers a diversified product mix.

Its position in the FMCG business is on a growth curve under the leadership of Sanjiv Puri, who is taking forward the task of further diversifying the business with a new zeal. Most of the investments have been around FMCG. It is making structural interventions and leveraging synergy of diversity between FMCG and other business to enhance its operational efficiencies and further expand the FMCG growth engine.

It recorded a profit after tax at Rs 3,232.40 crore on a Gross Revenue of Rs 11,891.91 crore in the 2nd quarter of FY21, thereby achieving a growth of 26% q-o-q and 1.2% y-o-y.

These numbers are backed by strong recovery in revenue across all operating segments, including staples, convenience foods, health and hygiene products leveraging the strong equity of the company’s brands and a robust portfolio of relevant and innovative products.