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ITC share price slips after 26% fall in Q1 net profit

Share price of  ITC lost 2.3% to  Rs 195.1 against previous close of Rs 199.70 on BSE

twitter-logoBusinessToday.In | July 27, 2020 | Updated 15:12 IST
ITC share price slips after 26% fall in Q1 net profit
ITC share has lost 27% in one year and fallen 17% since the beginning of this year.

ITC share price fell in trade today after the FMCG major reported a 26 per cent year-on-year (YoY) fall in consolidated profit after tax for the June quarter. Share price of  ITC lost 2.3% to  Rs 195.1 against previous close of Rs 199.70 on BSE.

The share trades higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages. The share has lost 27% in one year and fallen 17% since the beginning of this year.

Total 17.07 lakh shares changed hands amounting to total Rs 33.70 crore on BSE. Market cap of the firm fell to Rs 2.42 lakh crore. Net profit in Q1 fell to Rs 2,567.07 crore against Rs 3,436.51 crore profit in corresponding period of previous fiscal.

Consolidated revenue from operations fell 17 per cent to Rs 10,478.46 crore for the quarter under review compared with Rs 12,657.90 crore in the year-ago quarter, ITC said.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at Rs 2,646 crore in the June quarter. The margin stood at 27.8 per cent.

Revenue from cigarettes business fell to Rs 4,330.05 crore in the given quarter against Rs 6,141.92 crore a year ago. Revenue of FMCG came at Rs 3,378.84 crore as against Rs 3,068.07 crore a year ago. Hotels business revenue fell  to Rs 24.92 crore.

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