What ITC stock needs to stay on course3 min read 02 Aug 2022, 10:37 PM IST
In Q1, ITC beat analysts’ revenue estimates as it saw all-round growth across segments
But the y-o-y rise in cigarettes Ebit margin disappointed as it wasn’t in line with mix-enrichment
ITC Ltd has begun FY23 on an upbeat note. Its June quarter (Q1FY23) results have prompted many analysts to upgrade their earnings estimates for this financial year and the next. The company’s standalone net revenue at ₹17,290 crore in Q1 has surpassed analysts’ expectations on the back of all-round growth across segments. The hotels, paper and agri businesses have fared well, aiding ITC’s overall earnings growth last quarter. Analysts expect the momentum in cigarettes, hotels and paper businesses to continue for the rest of FY23, putting the company in a relatively better position vis-à-vis other fast moving consumer goods (FMCG) companies that are battling costs as well as demand pressures.
Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!Let’s get started