Shares of ITC Limited shares rose by 2 per cent following the announcement of quarterly results in 2021. The FMCG company's net profit decreased to Rs 3,343.44 crore
New Delhi (Anish Yande): Shares of ITC Limited shares rose by 2 per cent on Monday's trading session following the announcement of quarterly results in 2021. ITC Limited shares opened at Rs 214 per share from its previous close of Rs 212 per share on Friday. The shares of the FMCG company rose to an intraday high of Rs 215 per share. The market cap of the company rose to Rs 261,553 crore.
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ITC reports net profit decrease to Rs 3,343.44 crore:
ITC Ltd reported a consolidated net profit of Rs 2,567.07 crore in the corresponding quarter last year. The FMCG company's net profit decreased to Rs 3,343.44 crore for the quarter ended June 30, 2021 The Q1 net profit rose by 30.24% on a year-on-year basis.
The net profit of ITC Ltd was recorded at Rs 3,748.41 crore during the March quarter last year, decreasing by 19.61%.
The consolidated revenue from operations of ITC rose to Rs 14,240.76 crore in Q1 FY22. Revenue from operations was at Rs 10,478.46 crore in the same period last year. The consolidated revenue from operations increased by 35.91 per cent on a year on year basis.
ITC segment revenue surges in Q1:
The ITC’s revenue from the cigarette business rose 32.91 per cent to Rs 5,122.19 crore. The EBITDA from the cigarette business segment was rose to Rs Rs 3,220.94 crore in the corresponding quarter a year ago, increasing 36.69 per cent YoY.
Hotels business segment revenue from operations grew 463.5 per cent to Rs 127.24 crore. The paperboards, paper and packaging segment's revenue increased to Rs 1,582.65 crore with 54.19 per cent growth. The segment's revenue was Rs 1,026.44 crore in the same period last year.
The total expenses of ITC grew to Rs 10,220.49 crores as of June 30, 2021. ITC total expenses were at Rs 7,967.71 crore in the corresponding period. ITC's non-interest income rose Rs 3,706 crore in Q1 FY22 as compared with Rs 2,380 crore in Q1 FY21, at an increase of 56%.
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