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Monday, January 17, 2022

ITC Q1 net profit up 30.24 percent at Rs 3,343.44 crore

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New Delhi: ITC Ltd. has reported a consolidated net profit of Rs 3,343.44 crore in the first quarter of the current financial year ended June 30, 2021, an increase of 30.24 per cent over the corresponding quarter of the previous financial year. The company had earned a net profit of Rs 2,567.07 crore during the same period.

In the information sent to the stock exchanges, ITC Ltd. The company’s operating income grew by 35.91 per cent to Rs 14,240.76 crore during the April-June quarter, as against Rs 10,478.46 crore in the corresponding period of the previous fiscal, the company said. ITC’s total expenditure in the quarter under review was Rs 10,220.49 crore, which is 28.27 per cent higher than the corresponding period of FY 2020-21. It was Rs 7,967.71 crore in the April-June quarter of the previous financial year.

According to ITC, the lockdown and restrictions due to COVID-19 in many states made the economic situation challenging and also affected the pace of strong growth in recent quarters. ITC said its income from FMCG business grew by 23.68 per cent to Rs 9,534.07 crore during the April-June quarter of the current financial year. Which was Rs 7,708.89 crore during the corresponding quarter of the previous financial year.

ITC’s cigarette income grew by 34.01 per cent to Rs 5,802.67 crore in the first quarter of the current fiscal. While it was Rs 4,330.05 crore in the corresponding quarter of the last financial year. According to ITC, in the January-March quarter of the financial year 2020-21, its income from cigarettes had reached the level before COVID.

However, restrictions imposed during the second wave of COVID also hampered its operations in the April-June, 2021 quarter. Its income from other segments also grew by 22.2 per cent and stood at Rs 680.26 crore in the first quarter of the current fiscal. It was Rs 556.68 crore in the corresponding quarter of the previous financial year.(Agency)

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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