InvestorQ : How did you see the ITC results announced on Monday for the June quarter?
diksha shah made post

How did you see the ITC results announced on Monday for the June quarter?

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Dilmini Mercia answered.
2 weeks ago
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For the first quarter of fiscal 2023 ended June 202, ITC Ltd reported 33.98% yoy jump in net profits at Rs4,390 crore. During the same period, the sales revenues also grew by a healthy clip of 39.2% to Rs18,353 crore. The profit numbers announced were much better than the median street expectations. This has been achieved on posiive yield progress that iTC witnessed across most of its key business lines.

One can say that the performance of ITC in the June 2022 quarter was largely a manifestation of the normalisation of business across its different segments. ITC was also helped along the way by the stability in the cigarette tax regime. In the past, it was too volatile and this stability has helped volume recovery. Hotels clocked best quarterly profits in last 14 years, while agri, paperboards and FMCG also did very well. Cigarettes continue to dominate the profit contribution at more than 80%.

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