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Business News/ Markets / Stock Markets/  ITC Q4 results: Share price falls over 2% after announcement of Q4 earnings
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ITC Q4 results: Share price falls over 2% after announcement of Q4 earnings

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. (Reuters)Premium
ITC stock price is up more than 154% in the last 3 years. (Reuters)

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.

Read here: ITC Q4FY23 Results: Net profit up 22.7% to 5,225.02 crore, declares dividend

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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Published: 18 May 2023, 03:43 PM IST
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