ITC Q4 net up 26% - The Times of India
May 26, 2012
Hospitality-to-tobacco major ITC's net profit rose 26% to Rs 1,614 crore in the fourth quarter (January-March) of 2011-12 against Rs. 1,281 crore in the year-ago period. Better performance in tobacco, paperboard and agri businesses of the company are largely responsible for the rise in profit.
The cigarette segment of the company posted a net profit of Rs 1,757.88 crore compared to Rs 1,470.60 crore posted during the corresponding period in 2010-11. Agri business clocked a profit of Rs.105.56 crore against Rs. 99.75 crore in the year-ago period. Paperboard business witnessed an increase in profit from Rs 193.72 crore to Rs. 195.80 crore in the corresponding period of 2011-12.
For the fourth quarter of 2011-12, the company posted a turnover of Rs. 6,861.35 crore, a growth rate of 17.6% driven by robust performance in the cigarettes, FMCG, agri segments. The new FMCG business continued to lower losses. The loss now stands at Rs. 16.68 crore from Rs. 67.84 crore during fourth quarter of 2010-11.
In the new FMCG segment, branded packaged foods business grew significantly during the year, recording a robust growth in revenues and enhances market standing across segments, a company statement said. "Value capture was improved through cost optimization across the supply chain and optimal capital deployment.
Regarding the agri business, the company said: "The business's uniquely structured commodity sourcing business model with strong competencies in multi-location sourcing, logistics and supply chain management was able to leverage its strengths to improve value capture in the soya market and significantly expand business scale."
