ITC net up 26 per cent at Rs1,010 crore in July-September 2009-10
23 Oct 2009
ITC today reported a 26 per cent jump in its fiscal second quarter pre-tax profits and post tax profits at Rs1,492 crore and Rs1,010 crore, respectively over the same period last year. Profits from operations rose 33 per cent compared to the levels in the same quarter of the previous year.
The company's earnings per share for the quarter stood at Rs2.67 and ITC said there was all-round improvement in all sectors except the hotels business.
"With the exception of the hotels segment, which is reeling under the impact of the global economic slowdown, all businesses posted strong bottom line growth," the company said in a release.
FMCG business, including cigarettes, as also agriculture, paper and packaging businesses grew handsomely with net revenues of 21 per cent, 14 per cent, 19 per cent and 13 per cent, respectively.
ITC attributed profitability to better product mix, smarter sourcing of inputs and a series of targeted cost management actions. The company said investments in brand building in the personal care and branded foods businesses also helped.
ITC said its non-cigarette FMCG segment continued to improve on profitability while revenues from the sector grew 14 per cent.