ITC delivered yet another quarter of strong performance with Post tax profits growing by 26% despite a challenging business environment. With the exception of the hotels segment, which is reeling under the impact of the global economic slowdown, all businesses posted strong bottom line growth. Cigarettes, FMCG Others, Agri and Paper & Packaging businesses grew handsomely in net revenues by 21%, 14%, 19% and 13% respectively.
Profitability improved on the back of better product mix, smarter sourcing of inputs and a series of targeted cost management actions. Investments in brand building in the Personal Care and Branded Foods businesses continue to impact the segment results of ‘FMCG-Others’.
Pre-tax profits and post tax profits at Rs 1492 crores and Rs 1010 crores respectively grew by 26% over the same period last year. Earnings Per Share for the quarter stood at Rs.2.67.
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