- 23.5% jump in net profit
- Profit for the quarter ended 30 September at Rs 1,247 crore
- Turnover up by 16.3% at Rs 5061 crore
- Double digit growth in all segments including non-cigarette FMCG, Hotels as well as Paper and Pulp
ITC has over the years become one of the biggest FMCG conglomerates from the cigarette manufacturer it started out as initially. The second quarter results bear a testimony to the fact that ITC has done well to grow significantly as a business group and especially in the non-cigarette segment. The operating profits from this segment have grown by 37% and have been the primary driver for the 23.5% jump in profits.
The company however has an uphill battle to maintain growth in the cigarette business primarily due to severe taxation and regulatory enforcements. However, the company has been focused on improving the brand positioning by improving the quality and has launched a number of new variants in the market.
Given by the across the segment growth ITC has displayed in this quarter, the future looks bright and though far, the annual results might turn out really well too