Home / Companies / Company Results /  ITC’s Dec quarter net profit rises

ITC Ltd, India’s largest cigarette maker, on Thursday reported a 12.7% jump in its December quarter standalone profit. Net profit rose to 4,156.20 crore in the quarter ended 31 December, up from 3,687.88 crore a year earlier, the company said in a filing to the stock exchanges.

Revenue from operations at the maker of Bingo chips and Gold Flake cigarettes for the quarter grew 31.6% from year-ago to touch 16,806.89 crore up from 12,762.08 crore, much ahead of street expectations, according to an exchange filing by the company.

A Bloomberg poll of analysts had pegged ITC to report standalone revenues of 13,263.66 crore, with net profit coming in at 4,792 crore. The company’s board also approved an interim dividend of 5.25 per share for the current financial year.

“Enhanced vaccination coverage coupled with an uptick in business and consumer sentiments led to broad-based growth across markets and channels even as leading indicators reflected a deceleration in the pace of rural demand recovery," the company said in a statement. But it flagged “unprecedented" inflation in commodity prices, rise in ene-rgy costs and persistent global supply chain disruptions.

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