ITC Q4 Results: Net Profit grows 12% to Rs 4,196 crore, revenue rises 15%

FMCG-cigarette-hotel major ITC reported a consolidated net profit of Rs 4,196 crore, up 11.7% in the fourth quarter ended March 31, 2022. The company had posted a net profit of Rs 3,755.47 crore in the year-ago period.

On a sequential basis, the net profit rose 3.4% from Rs 3,755.47 crore in the December quarter.

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The revenue from operations for the period came at Rs 17,754.02 crore, up 15% in the March quarter. The company had reported revenue of Rs 15,404.37 crore in the corresponding quarter.

Its consolidated total income came in at Rs 18,252.64 crore as against Rs 10944.64 crore in the year-ago quarter.

Total expenses rose to Rs 12,632.29 crore as compared with Rs 9,765.56 crore in the corresponding quarter of the previous financial year, the company said.

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During the fourth quarter, the cigarettes segment logged revenue of Rs 7,177 crore as compared to Rs 6,508 crore in the March quarter of the previous fiscal year.

ITC’s other FMCG division clocked revenue of Rs 4148.62 crore as against Rs 3694.80 crore in the year-ago quarter.

The hotel business reported revenue of Rs 407.42 crore, up from Rs 302.35 crore in the same quarter of the financial year 2021.

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The company board has recommended a final dividend of Rs 6.25 for the financial year ended March 31, 2022, subject to the declaration of the same by the members at the 111th Annual General Meeting (AGM) convened on July 20, 2022. The dividend, if declared will be paid between July 22, 2022, and July 26, 2022, to those members entitled thereto. It has fixed May 28, 2022, as the record date for payment.

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ITC board also recommended for the approval of the members, the appointment of Supratim Dutta as a Director, and also as a Wholetime Director of the Company for three years with effect from July 22, 2022.

Shares of ITC on Wednesday ended 0.72% higher at Rs 266.50 per share on the Bombay Stock Exchange (BSE).