ITC net up 20%, aided by foods and stationery - Hindustan Times
July 27, 2012
Conglomerate with interests in tobacco, paper, apparel and information technology, ITC Ltd on Thursday posted a 20% year-on-year rise in net profit at Rs. 1,602 crore during the April-June quarter against Rs. 1,333 crore a year ago, primarily driven by branded packaged foods, education and stationery businesses.
Total income stood at Rs. 6,890 crore during the quarter against Rs. 6,018 crore a year ago.
The non-cigarette FMCG segment registered a revenue growth of 23% and improved profitability. The hotels business, however, continued to be hit by the weak economic environment, the company said in a statement.
Segment-wise, the branded packaged food business enhanced its market standing across categories and posted significant growth in revenues during the quarter. The personal care products business also grew significantly during the quarter.
