Diversified group ITC on Friday reported a 16.75 per cent increase in standalone net profit to Rs 3,090.20 crore for the December quarter, mainly on account of lower expenses and contribution from exceptional items. The company had posted a net profit of Rs 2,646.73 crore during the same period previous fiscal, ITC said in a regulatory filing. Total income during the October-December quarter stood at Rs 10,579.11 crore. It was Rs 14,257.9 crore in the corresponding quarter last fiscal.
Diversified group ITC Ltd today reported a 5.59 per cent increase in its standalone net profit at Rs 2,639.84 crore for the quarter ended September 2017, riding on lower expenses. The company had posted a net profit of Rs 2,500.03 crore during July-September of 2016, ITC Ltd said in a regulatory filing.
Another quarter of subdued revenue for our Consumer Universe, we expect aggregate revenue to grow 4.3% YoY and aggregate PAT to grow 9.7% YoY in 2QFY18. Sales for the quarter are likely to be impacted by (a) GST-related disruptions, as well as by (b) GST accounting on sales.
ITC is one of India's foremost and largest private sector consumer companies. ITC, a management driven company, has a diversified presence in FMCG, Hotels, Paperboards & Specialty Papers, Packaging, Agri-Business, and Information Technology.
For 3QFY2017, ITC has reported below estimates numbers, both on the top-line and bottom-line fronts, on the back of lower Cigarettes volume growth due to demonetization of Indian currency. However, healthy growth was witnessed in other businesses like Hotels, Agri Business, etc.
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