During the reporting period, the conglomerate’s tax expenditure increased by 12% year-on-year to Rs 1,335.83 crore.
Diversified conglomerate ITC on Thursday reported a 12.69% year-on-year (year-on-year) increase in its standalone net profit to Rs 4,156.20 crore for the third quarter ended December 31, 2021, as its gross income sales increased by 31.25% year-on-year.
The cigarette major at FMCG at the hotel had posted a net profit of Rs 3,687.88 crore for the third quarter of the previous financial year. Gross sales revenue for the period October to December last year stood at Rs 16,633.86 crore compared to Rs 12,673.31 crore for the same period the previous year, according to the stock market record of the society. During the reporting period, the conglomerate’s tax expenditure increased by 12% year-on-year to Rs 1,335.83 crore.
During the third quarter of this fiscal year, revenue from the company’s cigarette business increased by 13.56% year-on-year to Rs 6,244.11 crore, while segment operating profit increased by 14 .42% YoY to Rs 3,950.71 crore during the period, according to the exchange’s filing. During the quarter under review, the non-cigarette FMCG business recorded 9.26% YoY growth in revenue to Rs 4,090.56 crore, while the segment recorded marginal growth of 1% YoY annual operating profit at Rs 241.87 crore during this period.
The hotel business saw a huge 101.27% year-on-year increase in revenue to Rs 473.39 crore, while the segment recorded an operating profit of Rs 50.56 crore vs an operating loss of Rs 67.33 crore in the third quarter of the previous financial year.
The company’s board recommends an interim dividend of Rs 5.25 per share for the year ending March 31, 2022.
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