InvestorQ : How did you find the quarterly results of ITC Ltd for the Mar-21 quarter?
vaishnavi mhatre made post

How did you find the quarterly results of ITC Ltd for the Mar-21 quarter?

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sarah Leo answered.
2 weeks ago
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The results were OK on a yoy basis but not too impressive on a sequential basis. The pressure on the non-cigarette FMCG business is quite evident in the quarter. In fact, ITC reported -2.6% lower net profits on a yoy basis at Rs.3,755 crore for Mar-21 quarter due to pressure on the non-cigarette FMCG business in the midst of all the post pandemic events.

Not surprisingly, the hotels vertical was the only division to make EBITDA level losses due to weak occupancy in the midst of the lockdown and the restrictions imposed by the pandemic. The top line sales number was higher by 22.6% yoy at Rs.15,404 crore. The board of ITC recommended a final dividend of Rs 5.75 per share making it Rs.10.75 for the full year. Among other businesses, paper, paperboards and agri did well on growth and margins.

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