ITC's Q1 proft up 10% at Rs 2,818.68 crore; revenue from cigarettes vertical down 41.5% at Rs 5,127.59 crore

ITC said its agri-business had a revenue of Rs 3,151.27 crore as compared to Rs 2,760.52 crore in the corresponding quarter last fiscal.

Press Trust of India July 26, 2018 18:20:40 IST
ITC's Q1 proft up 10% at Rs 2,818.68 crore; revenue from cigarettes vertical down 41.5% at Rs 5,127.59 crore

New Delhi: Diversified ITC on Thursday reported 10 percent increase in standalone net profit at Rs 2,818.68 crore for the first quarter ended on 30 June, 2018, aided by lower expenses, good growth in agri-business and other FMCG business despite a decline in cigarettes sales.

The company had posted a standalone net profit of Rs 2,560.50 crore in the first quarter last fiscal, ITC said in a BSE filing.

Revenue from operations was at Rs 10,874.59 crore. It was at Rs 13,800.42 crore in the same quarter of last fiscal.

The two figures are not comparable as revenue from operations is net of GST after the implementation of the new tax regime from July 2017.

ITCs Q1 proft up 10 at Rs 281868 crore revenue from cigarettes vertical down 415 at Rs 512759 crore

Representational image. Reuters

The company said its total expenses for the quarter under review stood at Rs 6,978.50 crore as against Rs 10,332.61 crore in the corresponding period last fiscal.

During the first quarter, revenue from cigarettes vertical stood at Rs 5,127.59 crore as compared to Rs 8,774.16 crore in the corresponding period last fiscal, down 41.5 percent, ITC said.

Other FMCG segment had a revenue of Rs 2,870.03 crore as against Rs 2,600.89 crore in the same period a year ago.

ITC said its agri-business had a revenue of Rs 3,151.27 crore as compared to Rs 2,760.52 crore in the corresponding quarter last fiscal.

Hotels business posted a revenue of Rs 341.28 crore in the first quarter this fiscal as compared to Rs 304.89 crore in the same period last year, while the paperboards, paper and packaging vertical posted revenue of Rs 1,355.83 crore as against Rs 1,359.82 crore in the same period last fiscal

Updated Date:

also read

Market Roundup : Sensex falls by 1,170 points, Nifty ends at 17,416; check top winners and losers here
Business

Market Roundup : Sensex falls by 1,170 points, Nifty ends at 17,416; check top winners and losers here

The top gainers at BSE were Bharti Airtel, Asian Paints and Power Grid and the top losers were Bajaj Finance, Bajaj Financial Services, Reliance, NTPC and Titan.

Market Roundup: Sensex rises by 454 points, Nifty ends at 17,536; check top winners and losers here
Business

Market Roundup: Sensex rises by 454 points, Nifty ends at 17,536; check top winners and losers here

Under sectoral indices, auto registered losses while metal, realty, media and IT were in green

Market Roundup : Sensex falls by 323 points, Nifty ends at 17,415; check top winners and losers here
Business

Market Roundup : Sensex falls by 323 points, Nifty ends at 17,415; check top winners and losers here

The top BSE gainers were Kotak Bank, NTPC, ICICI Bank, Bajaj Finance and Power Grid. The top losers were Maruti, Infosys, ITC, Reliance and L&T