18New Delhi: FMCG major ITC on Thursday recorded a 21.37 per cent YoY hike in consolidated net profit at Rs 5,086.90 crore for the March quarter in comparison to Rs 4,190.96 at the same time a year back and therefore announced a dividend of Rs 9.50 per share. Industry experts were anticipating profit growth in between the 13-21 per cent range.
Revenue in the fourth quarter rose by 6.14 per cent YoY to Rs 17,224 crore compared to Rs 16,226.63 crore during the same quarter last year. Revenue from the cigarette segment for Q4 stood at Rs 7,355.83 crore, up by 14 per cent in comparison to Rs 6,443.37 crore during the same period last year with its PBIT which was up by 14 per cent YoY.
Other segment’s data
For other segments of FMCG, the reported revenue was at Rs 4,944.95 crore compared to Rs 4,141.97 crore YoY.
Revenue from the hotel segment doubled to Rs 781.71 crore from Rs 389.64 crore YoY. On the other hand, Agri-business declined in sales with Rs 3,578.60 crore compared to Rs 4,366.34 crore YoY.
Paperboard segment revenue stood flat at Rs 2,221 crore against Rs 2,182.77 crore YoY.
Its EBITDA margin for Q4 was at 36.1 per cent up by 385 basis points YoY.
After two years of pandemic-led disruptions, FY23 marked a return to normalcy in operations, ITC said.
“However, geopolitical tensions, continued supply chain dislocations and climate crisis resulted in unprecedented inflation and volatility in global commodity and energy prices. Central banks across the world responded swiftly with a sharp increase in interest rates within a relatively short time frame. The Indian economy remained a bright spot in FY 2022-23 amidst the global slowdown,” it said.
With steep inflation eating into household budgets, consumption demand remained subdued particularly in rural markets and for discretionary categories in urban markets, ITC said.
After gaining revenue, The Kolkata-based company announced a final dividend of Rs 6.75 along with a special dividend of Rs 2.75 per share for FY23. Upon declaration of the dividend, it will be distributed between August 14 and August 17, the conglomerate said in an NSE filing.
Together with the interim dividend of Rs 6 per share as declared by the board on February 3, now the total divided for FY23 would amount to Rs 15.50 per share.
Around 3 pm, the firm’s shares were trading 1.84 per cent lower with Rs 419.80 on BSE, making it the second-best stock among Nifty performers in 2023 so far.
