Constraints in operating outlets, limited hours of operation posing challenges, says ITC1 min read . Updated: 01 Jun 2021, 11:10 PM IST
- ITC said its cost reduction measures remain firmly in focus
NEW DELHI : Multi-conglomerate ITC Ltd on Tuesday said constraints in operating outlets and limited hours of operation are posing challenges, though there are no material supply chain bottlenecks during the lockdowns imposed amid the second wave of COVID-19.
It is leveraging its learnings while dealing with the pandemic for spanning sales and distribution, supply chain operations along with relevant innovation and product development, ITC said in its post earning statement.
The Kolkata-headquartered firm said its cost reduction measures remain firmly in focus.
“The Company continues to monitor the developments closely and is well geared to respond with agility to the evolving situation while managing risks associated with the dynamic environment," it added.
After the second wave of COVID-19, several state governments and the local authorities have imposed restrictions, including Lockdown, allowing a small timing of 3-4 hours for operation of stores and trade, in their effort to curb the spread of the pandemic.
“While the constraints in the number of operating outlets and limited hours of operation are posing challenges at the front-end, there are no material supply chain bottlenecks," the company.
ITC has a diversified presence in FMCG, hotels, packaging, paperboards and speciality papers and agri-business.
For the financial year ended March 2021, ITC’s revenue from operations was at ₹53,155.12 crore.
According to the firm, the outbreak of the second wave of the pandemic has led to “severe economic and social disruptions".
“The Company, in line with its ‘Putting India First’ credo, is supporting the nation’s fight against the pandemic and has undertaken several initiatives in this regard," it said.
Its key interventions include easing the bottlenecks in transporting medical oxygen, supply of medical oxygen to government hospitals from its Bhadrachalam plant, importing oxygen concentrators and generators for donation, facilitating the setting up of medical facilities to supplement the healthcare infrastructure, providing personal protective equipment kits and other infrastructural support to hospitals in several states.
The safety and well-being of its employees, partners and associates continue to be of paramount importance.
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