On a sequential foundation, the revenue after tax (PAT) grew by 9% from ₹3,713 crore within the September quarter.
The cigarette-to-hotel conglomerate’s income from operations surged 30% to ₹18,365 crore for the interval underneath overview as towards ₹14,124 crore a 12 months in the past.
The corporate’s board has additionally accepted an interim dividend of ₹5.25 per share for the present monetary 12 months.
The corporate has fastened Tuesday, 15 February, 2022 because the document date for the aim of figuring out entitlement of the members for interim dividend and will probably be paid on 4 March.
The inventory has been in focus within the final seven seven days amid Funds 2022 as traders awaited a choice on enhance in taxes on Tobacco. With no announcement made, it was a sigh of aid for a lot of.
The shares have gained 7.16% within the final 5 days. On Thursday, forward of the outcomes, ITC scrip closed 0.58% greater at ₹233.50 on NSE.
Section sensible, income from cigarette enterprise got here in at ₹6,958 crore as towards ₹6,091 crore within the final 12 months interval, which is a rise of 14% year-on-year.
The phase clocked a revenue earlier than tax of ₹4,187 crore in third quarter, up 14% year-on-year.
“Strong restoration continued within the phase throughout markets aided by enhance in mobility and, agile provide chain and market servicing,” the corporate mentioned.
ITC mentioned vast availability of smuggled cigarettes continued regardless of sturdy deterrent actions by enforcement companies, resulting in vital income loss to the federal government and adversely impacting the authorized cigarette business.
The non-cigarette FMCG enterprise or FMCG-others revenues elevated by 9% to ₹4,099 crore through the third quarter as towards ₹3,752 crore a 12 months in the past.
The PBT for the enterprise got here in flat at ₹246 crore through the December quarter as in comparison with ₹243 crore in the identical quarter final 12 months. Section EBITDA (earnings earlier than curiosity, tax, depreciation and amortisation) was up 46% over final 12 months interval with margins at 9.1% regardless of unprecedented inflation in commodity costs.
The lodges enterprise swung financial institution into revenue (earlier than the taxes) at ₹53 crore as towards a lack of ₹72 crore in earlier 12 months interval and ₹49 crore within the September quarter. The revenues, in the meantime, almost doubled, rising 99.5% to ₹495 crore as in comparison with ₹248 crore within the final 12 months interval.
The corporate mentioned occupancy is lodges has recovered to pre-pandemic ranges with sturdy sequential enchancment in ARRs however nonetheless under pre-pandemic ranges
The home leisure journey and festive, wedding ceremony season has boosted demand with progressive enchancment in enterprise journey. Nonetheless, the Omicron wave has impacted restoration momentum in January.
The revenues for lodges enterprise have been augmented by means of sharply focused packages (Welcombreak, Metropolis Getaways and so on.) catering to rising developments and client wants together with centered communication campaigns.
The enterprise has undertaken varied structural price administration actions up to now 12 months which has led to vital discount within the fastened price desk, thereby enhancing working leverage on a sustainable foundation.
The income from agri enterprise got here in at ₹5,157 crore for the third quarter as towards ₹2,694 crore within the year-ago interval, clocking a development of 91%. The expansion was pushed by wheat, rice, spices, leaf tobacco exports leveraging sturdy buyer relationships, sturdy sourcing community and agile execution.
The PBT for a similar elevated 22% to ₹348 crore compared with ₹284 crore within the year-ago quarter.
In the meantime, revenues from paperboards, paper and packaging phase rose 38% year-on-year to ₹2,046 crore, whereas the revenue earlier than tax for a similar phase surged 57% year-on-year to ₹448 crore.
Paperboard volumes hit a document excessive through the quarter on the again of demand revival throughout most end-user segments and exports.
“The third wave of the pandemic has led to a surge in Covid circumstances within the nation and briefly halted the restoration momentum, notably within the lodges enterprise. Whereas mobility restrictions and restricted hours of enterprise have impacted classes with greater salience of out-of-home consumption, the impression is anticipated to be restricted in view of the progressive discount in Covid circumstances being recorded throughout varied components of the nation,” ITC mentioned in a submitting.
Supply: Live Mint