ITC Q2 net rises over 24 per cent to Rs1,514 crore

FMCG major ITC has posted a standalone net profit of Rs1,514.31 crore for quarter ended September 2011, a more than 24 per cent increase from the Rs1,246.74 crore profit reported in the similar period of the previous financial year.

Net profit for the second quarter of FY 2011-12 was up 13 per cent from the Rs1,332.72 crore net profit reported in the first quarter of the current fiscal.

Sales during the quarter stood at Rs5,974.18 crore, up 18 per cent from the sales of Rs5,061.20 crore in the corresponding quarter of the previous financial year.

Sales in Q2 2011-12 rose 3.5 per cent from Rs5,767.47 crore in Q1 of the current fiscal.

Net revenue from the cigarette business for the second quarter rose 16.39 per cent to Rs2,968.14 crore, from Rs2,550.11 crore in the previous year quarter.

Other income rose 45.23 per cent year-on-year to Rs180.8 crore in Q2 from Rs124.49 crore in the corresponding period of the previous fiscal.