FMCG biz drives ITC profit 21.46% - The Hindu Business Line
October 26, 2013
ITC Ltd has reported 21.46 per cent increase in net profit at Rs 2,230.53 crore for the second quarter ended September 30, driven by a strong performance in the FMCG business.
It had reported net profit of Rs 1,836.42 crore in the July-September quarter of the previous fiscal 2012-13.
Its net sales during Q2,2013-14 increased by 8.81 per cent toRs 7,775.79 crore from Rs 7,146 crore in the year-ago period, ITC said in a filing to the BSE.
The company's Q2 revenuefrom FMCG business increased by 12.01 per cent to Rs 5,686.03 crore against Rs 5,075.95 crore in the second-quarter of last fiscal. ITC's FMCG business is divided into two categories - cigarettes and others. Revenue from cigarettes increased by 10 per cent to Rs 3,723.81 crore, while 'others' category showed an increase of 16.05 per cent at Rs 1,962.22 crore.
Others in FMCG business include packaged foods (bakery and confectionery foods, snack foods, staples, spices and ready-to-eat foods), apparel, education and stationery products, personal care products, safety matches and incense sticks. Revenue from non-FMCG business, which includes hotels, agriculture and paperboard, paper and packaging, were at Rs 3,198.17 crore, a decrease of 3.08 per cent.
The ITC scrip closed at Rs 340, down 0.74 per cent, on the BSE.
