Robust growth in the FMCG sector helped ITC post net profit of Rs 2,425.16 crore for the second quarter on Friday as against Rs 2,230.53 crore in July-September of FY14. Standalone total income was Rs 9,023.74 crore compared to Rs 7,862.53 crore in Q2 FY14, the company said in a statement.
The overall FMCG segment has posted a revenue of Rs 6,446.97 crore during the quarter while it stood at Rs 5,686.03 crore in the year-ago period. ITC said results are not comparable due to the demerger of non-engineering business of its arm Wimco and subsequent merger with itself.
ITC said it posted another quarter of impressive growth notwithstanding a challenging business environment exacerbated by a steep hike in excise duties on cigarettes for the third year in succession as announced in the Union Budget 2014.
Revenue from the cigarettes business was at Rs 4,250.86 crore as against Rs 3,723.81 crore in Q2 FY14.