ITC share surges over 4% on reporting 11.81% rise in Q4 net profit

ITC shares jumped 4.75% to Rs 279.15 after the company’s standalone net profit increased 11.81% to Rs 4,190.96 crore in Q4 March 2022 over Q4 March 2021, on a 16.49% growth in net revenue to Rs 15,331.48 crore.

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EBITDA increased by 16.8% in Q4 FY22 to Rs 5,224 crore from Rs 4,473 crore in Q4 FY21. Profit before tax was Rs 5,442 crore in the fourth quarter, up 12.1% from Rs 4,854 crore in the same time the previous year.

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During the period under review, total FMCG category revenue climbed by 10.9% year on year to Rs 10585 crore. During the quarter, cigarette revenue increased by 10% year on year to Rs 6,443 crore, while revenue from other FMCG increased by 12.3% year on year to Rs 4,142 crore.

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Despite difficulties caused by the third wave, the company experienced a significant broad-based recovery in the cigarettes market. According to the company, volumes have surpassed pre-pandemic levels.

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In the fourth quarter of FY22, hotel business revenue was Rs 390 crore (up 35.4% YoY), agri-business revenue was Rs 4366 crore (up 29.6% YoY), and paperboards, paper & packaging revenue was Rs 2,183 crore (up 31.8% YoY).

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Gross sales climbed by 22.7% to Rs 59,101.09 crore in FY22, while EBITDA improved by 22% to Rs 18,933.66 crore.

For the fiscal year ending March 31, 2022, the board proposed a final dividend of Rs 6.25 per share. 

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Profit before tax increased by 15.5% to Rs 19,829.53 crore, while profit after tax was Rs 15,057.83 crore (previous year Rs 13,031.68 crore). Net cash generated from operations increased by 32% year on year to over Rs 13,000 crore.

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ITC is a diverse company with operations in fast-moving consumer products, hotels, paperboards and packaging, agriculture, and information technology.