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Business Economy


ITC Ltd reports 9.9 percent year-on-year increase in net profit at Rs 2,933 crore

Kolkata, May 16 (UNI) Cigarette-to-FMCG major ITC limited on Wednesday reported 9.9 per cent year-on-year (YoY) increase in net profit at Rs 2,933 crore for the fourth quarter of FY18, compared with Rs 2,669.47 crore in the year-ago period.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 6.9 percent YoY to Rs 4,144 crore.
The company posted a standalone net profit of Rs 11,223.25 crore in 2017-18, up by 10 per cent from Rs 10,200.90 crore in previous financial year.
However, revenue from operations declined to Rs 10,813.24 crore during the quarter under review against Rs 15008.82 crore in the same quarter last year.
The company reported EBITDA margin of 39.1 percent compared to 38.4 percent a year ago.
EBIT of the main stay cigarrette business of ITC was up 7.6 percent on year to Rs 3506 crore.
On a comparable basis, gross sales during the quarter stood at Rs 17,933.48 crore, representing a growth of 3.5 per cent, over Rs 17,315.75 crore in the corresponding period of 2016-17.
The board has recommended a dividend of Rs 5.15 per share on face value of Rs 1 each for financial year ended March 31.
ITC is a diversified conglomerate also having a business interest in FMCG, paper, hotel, and agri.
ITC Hotel Business EBIT stood was up 13 percent on year in quarter at Rs 75.4 crore, while FMCG other EBIT were up 64 percent at Rs 91.2 crore.
The board of directors of the company on Tuesday re-designated Sanjiv Puri, CEO & Whole time Director, as the Managing Director of the company with effect from May 16, 2018.
UNI BM SJC
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