ITC likely to post profit up by 6.3 in Q4 results

Lloyd Doyle
May 16, 2018

Hindalco on Wednesday posted 24.98 per cent year-on-year drop in profit at Rs 376.97 crore for the quarter ended March.

"Shortage of leaf tobacco in Andhra Pradesh due to lower crop output on account of drought in 2016 and adverse crop quality, relative strength of the Rupee vis-à-vis currencies of competing origins and limited trading opportunities in other agri-commodities weighed on the performance of the Agri Business", said ITC.

Revenue from cigarettes during the March quarter fell by nearly 45 per cent to Rs 4,936.45 crore over Rs 8,954.94 crore in same period of previous fiscal.

The board of directors of the company on Wednesday recommended a dividend at 120 per cent i.e. Rs 1.20 per equity share of face value of Re 1 each for the financial year ended March 31. In comparison, it had reported a 16.75 per cent increase in its net profit at Rs 3,090.20 crore for the quarter ended December 31, 2017.

In the segment-FMCG-Others-its revenue rose to Rs 3,051.82 crore during the quarter as against Rs 2,885.76 crore in the corresponding period of previous year.


The Kolkata-based company's earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 6.9 per cent to Rs 4,144 crore year-on-year, while EBITDA margin went up to 39.1 per cent from 38.4 per cent a year ago.

The Cigarette-to-soap maker's net sales for March quarter is noted at Rs 12,126 crore, which is 9 percent higher on year, as per the Reuters estimates.

Despite the challenging conditions prevailing during the year, the company's FMCG-Others businesses Segment Revenue at Rs 11,329 crore recorded an increase of 11.3 per cent (on a comparable basis) on a relatively firm base. However, its hotel business fared better, posting an EBIT jump of 13 per cent year-on-year in the quarter under review.

ITC shares were trading at Rs 287.10, up 1.88 per cent, on the BSE.

Other reports by Iphone Fresh

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