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ITC Q2 profit jumps 36% to Rs 4,023 crore; revenue from cigarettes rise near 6%

ITC Q2 results: Net sales of the company rose by 5.31 per cent to Rs 11,871.47 crore in Q2FY20 as against Rs 11,272.51 crore in Q2FY19

twitter-logo BusinessToday.In   New Delhi     Last Updated: October 24, 2019  | 18:57 IST
ITC Q2 profit jumps 36% to Rs 4,023 crore; revenue from cigarettes rise near 6%
ITC Q2 results: Revenue from cigarettes increased by 5.98 per cent to Rs 5,326.83 crore, while from other businesses rose by 4.04 per cent to Rs 3,288.31 crore

Homegrown fast moving consumer goods (FMCG) major ITC on Thursday reported 36.16 per cent year-on-year (YoY) growth in its standalone net profit at Rs 4,023.10 crore for the second quarter ended September 30, 2019.

"The diversified tobacco major had reported a standalone net profit of Rs 2,954.67 crore in the corresponding quarter of fiscal 2018-19," ITC said in a filing to the Bombay Stock Exchange. The profit was aided by one-time tax credit of Rs 166.16 crore during the quarter under review.

Net sales of the company rose by 5.31 per cent to Rs 11,871.47 crore in Q2FY20 as against Rs 11,272.51 crore in Q2FY19.

The company, which sells brands like Sunfeast biscuits and Gold Flake cigarettes, posted EBITDA (Earnings before Interest, Taxes, Depreciation and Amortisation) at Rs 4,562.4 crore, while EBITDA margin stood at 38.4 per cent.

Also Read: HUL Q2 profit rises 21% to Rs 1,848 crore, volume growth remains flat

On the consolidated basis, the Kolkata-headquartered firm reported a net profit of Rs 4,174.69 crore and net sale of Rs 12,867.39 crore during the quarter under review.

ITC's revenue from FMCG business increased to Rs 8,615.14 crore in the quarter as against Rs 8186.41 crore in the corresponding quarter last year. The company's FMCG business is divided into two categories, cigarettes and others. Revenue from cigarettes increased by 5.98 per cent to Rs 5,326.83 crore, while from other businesses rose by 4.04 per cent to Rs 3,288.31 crore.

Also Read: Colgate-Palmolive India Q2 profit rises 24% to Rs 244 crore, net sales up 4.5%

Revenue from non-FMCG business which includes hotels, agri business and paperboard, paper and packaging were at Rs 13,254.71 crore versus Rs 12,193.15 crore in the year-ago period.

Total expenses were at Rs 7,718.10 crore as compared with Rs 7,407.51 crore in the same quarter last year. Ahead of Q2, ITC shares closed 0.82 per cent lower at Rs 248.95 apiece on the Bombay Stock Exchange.

Edited by Chitranjan Kumar

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