ITC first quarter net profit jumps 20% - The Times of India
July 27, 2012
FMCG to hotels major ITC has witnessed a 20.2% jump in net profit in the first quarter of this fiscal. It has posted a net profit of Rs 1602 crore in the quarter ended June 30, 2012 from Rs 1332 crore in the corresponding period of the last fiscal.
The solid double-digit growth in net was fuelled by healthy profit in paperboard, tobacco and agri businesses, while the new FMCG businesses have cut down losses in the quarter to Rs 38.84 crore from Rs 76.28 crore.
The firm's turnover during the quarter has grown to Rs 6713 crore from Rs 5767 crore, driven primarily by branded packaged foods, education & stationery and the cigarettes businesses.
An official pointed out that the non-cigarette FMCG segment has registered robust revenue growth of 23%.
The performance of the paperboard and packaging business was robust with growth in profit from Rs 226 crore to Rs 264 crore. "Agri business profit has grown, driven by improved realizations and an enriched portfolio," a company release said.
