ITC 1Q net profit marginally up at Rs2,265 crore

30 Jul 2015

1

Diversified consumer goods major ITC Ltd has reported a net profit at Rs2,265 crore for the quarter ended 30 June 2015, a near four per cent increase from the Rs2,186 crore reported in the year-ago period.

However, ITC saw its total income from operations during the April-June 2015 quarter drop more than seven per cent to Rs8,588 crore. Total income in the corresponding period last fiscal stood at Rs9,248 crore.

''The company's performance during the quarter was subdued reflecting the unprecedented pressure on legal cigarette industry volumes, sluggish demand conditions prevailing in the FMCG industry and lack of trading opportunities in wheat and soya,'' ITC said in a release.

Despite tax woes, cigarettes remained a contributor towards ITC's revenues and pre-tax profits. While the segment reported a profit of Rs2,781 crore, revenues from it during the April-June 2015 quarter stood at Rs4,150 crore.

Other divisions like agri business, paper boards, paper and packaging segments reported profits of Rs234 crore and Rs254 crore, respectively.

However, the FMCG category (that include branded packaged foods business, apparel, education and stationery products, personal care and safety matches and agarbattis) continued to be in the red, reporting a loss of nearly Rs8 crore.

''The segment results of FMCG others are after considering significant business development, brand-building and gestation costs of branded packaged foods business and personal care business,'' ITC said in its filing with the BSE.

The hotel business also reported a loss of over Rs7 crore.

The ITC stock was trading at Rs311, up 2.32 per cent on the BSE at around 1.20 pm.

Latest articles

Senior bankers in PSBs are in firing line: AIBEA

IIT Madras – ISRO to set up Centre of Excellence for research in Fluid and Thermal Sciences

IIT Madras – ISRO to set up Centre of Excellence for research in Fluid and Thermal Sciences

LPG as automobile fuel a solution for Delhi NCR air pollution: IAC

LPG as automobile fuel a solution for Delhi NCR air pollution: IAC

Entry of Starlink and Kuiper could churn India’s telecom sector

Entry of Starlink and Kuiper could churn India’s telecom sector

India building Rs820-cr railway test track in Rajasthan

India building Rs820-cr railway test track in Rajasthan

Rupee falls to 84.37 a dollar as foreign funds withdraw over $2.37 bn from Indian stocks in five days

Rupee falls to 84.37 a dollar as foreign funds withdraw over $2.37 bn from Indian stocks in five days

New central scheme to facilitate guarantee-free loans for higher education

New central scheme to facilitate guarantee-free loans for higher education

Canada ends Student Direct Stream channel for student visas

Canada ends Student Direct Stream channel for student visas

Supreme Court orders liquidation of Jet Airways as debt resolution fails

Supreme Court orders liquidation of Jet Airways as debt resolution fails

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers