The revenue for the period comes at ₹13,294 crore, up nearly 25% for the March quarter
Revenue from its cigarette business rose 14.2% to ₹5,859 crore for March quarter
FMCG-cigarette-to-hotel major ITC on Tuesday reported a year-on-year net profit of ₹3,748.41, down 1.29%, in the quarter ended 31 March, 2021. The company had posted a net profit of ₹3,797.08 crore in the year-ago period. The FMCG major posted a consolidated net profit of ₹3,755 crore in the said quarter.
The revenue for the period comes at ₹13,294 crore, up nearly 25% for the March quarter. The company had posted a revenue of ₹10,665 crore in the corresponding period. However, the standalone revenue from operations (excluding excise duty) in Q4FY21 grew by 22.6%to ₹13,294.7 crore YoY.
Total expenses increased 24% to ₹10,075.03 crore in this quarter against ₹7,663.74 crore in the same period a year ago.
The board also approved a final dividend of ₹5.75 per share for the quarter ended March, 2021. "The Final Dividend, if declared, will be paid on Friday, 13th August, 2021 to those Members entitled thereto," the company said in a regulatory filing.
The final dividend is in addition to the interim dividend of ₹5 per share declared by the Board on 11th February, 2021, and paid to the members on 10th March, 2021.
The FMCG major's earnings before interest, tax, depreciation and amortisation (EBITDA) came at ₹4,473 crore during March quarter.
Segment-wise, the sale of cigarettes improved strongly during the quarter under review. Revenue from its cigarette business, rose 14.2% to ₹5,859 crore for March quarter, compared with ₹5,130 crore in the corresponding period.
ITC hotel business was severely affected by the coronavirus pandemic. The revenue from hotel business reported 38% year-on-year decline to ₹287.77 crore in Q4FY21.
The revenue from agri business rose exponentially by almost 79% at ₹3,368.92 crore compared with ₹1,887.26 crore during the year-ago period. The revenue from revenues from paperboards, paper and packaging business rose year-on-year to ₹1,656.91 crore.
Meanwhile, ITC said its results for this quarter are not comparable with the earlier period as it also includes the revenue of Sunrise Foods, which it had acquired on July 27, 2020.
"The financial results of the group and 'FMCG Others' of the quarter and the financial year ended on March 31, 2021 include those of Sunrise from July 27, 2020 and consequently are not comparable with previous periods," it said.
ITC stock price gained 3.6% in the current year CY21, and 8% in the last one year. The FMCG major's scrip on BSE closed 0.32% lower at ₹215.90 today.
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