ITC share price declined over 2% Thursday after the company reported its earnings for the quarter ended March 2023. ITC stock fell as much as 2.02% to trade at ₹419 apiece on the BSE.
ITC share price has witnessed a stellar rally as it jumped 57% in the last one year as against 11.66% gains on the benchmark Nifty index during the same period. ITC stock price is up more than 154% in the last 3 years.
The cigarette manufacturer reported a consolidated net profit of ₹5,225.02 crore in Q4FY23, rising 22.7% YoY.
ITC’s board also recommended a final dividend of ₹6.75 and special dividend of ₹2.75 for the financial year ended March 31, 2023.
On a standalone basis, ITC’s net profit grew 21.4% YoY to ₹5,086.9 crore during the quarter under review from ₹4,190.9 crore in the same period last year.
Revenue from operations of the company increased 5.6% to ₹16,398 crore from ₹15,531 crore, YoY.
EBITDA in Q4FY23 rose 19% YoY to ₹6,209.3 crore, while EBITDA margins improved to 37.9% from 33.6%
The cigarette business of the company grew 14% YoY and reported revenue of ₹7,355.83 crore. FMCG revenue rose 19% to ₹4,944.95 crore and hotels business revenue clocked a revenue of ₹781 crore, almost doubling YoY.
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