ITC Ltd Q3 net profit up 17% at Rs 3,090.20 crore, revenue from FMCG business declines

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Updated: January 19, 2018 4:49:57 PM

Diversified group ITC Ltd on Friday reported a 16.75 percent increase in its net profit at Rs 3,090.20 crore for the quarter ended December 31, 2017. The company had posted a net profit of Rs 2,646.73 crore during the same period previous fiscal, ITC Ltd said in a regulatory filing.

itc, itc profit, itc revenue, itc quarter three profit, itc quarter three revenueThe company had posted a net profit of Rs 2,646.73 crore during the same period previous fiscal, ITC Ltd said in a regulatory filing. (Image: Reuters)

Diversified group ITC Ltd on Friday reported a 16.75 percent increase in its net profit at Rs 3,090.20 crore for the quarter ended December 31, 2017. The company had posted a net profit of Rs 2,646.73 crore during the same period previous fiscal, ITC Ltd said in a regulatory filing. Total income during the October-December quarter stood at Rs 10,579.11 crore. It was Rs 14,257.9 crore in the corresponding period previous fiscal.

The company said due to the restructuring of indirect taxes, gross revenue from the sale of products and services and excise duty for the quarter are not comparable with the previous periods. Total expenses during the period were Rs 6,362.4 crore compared to Rs 10,303.71 crore in the year-ago period. Revenue from FMCG business including cigarettes stood at Rs 7,500.97 crore as against Rs 10,857.23 crore in the year-ago period. Hotels contributed Rs 404.44 crore during the quarter compared to Rs 370.51 crore during the same period previous fiscal.

Diversified group ITC Ltd had reported 5.59 percent increase in standalone net profit to Rs 2,639.84 crore for the September quarter of the current fiscal with its cigarettes segment hit hard by higher taxes.It had posted a net profit of Rs 2,500.03 crore during the July-September quarter of the last fiscal, ITC said in a regulatory filing.The company’s total income during the second quarter of 2017-18 was Rs 10,258.13 crore. It had posted income of Rs 14,091.96 crore in the year-ago period.ITC said its total income from operations during the quarter under review is not comparable with the previous periods due to the introduction of GST from July 1.

ITC Limited or ITC is an Indian conglomerate based in Kolkata, West Bengal. Its diversified business includes five segments: Fast-Moving Consumer Goods (FMCG), Hotels, Paperboards & Packaging, Agri Business & Information Technology.

With PTI inputs

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