ITC Q3 net profit rises nearly 21 per cent to Rs2,052 crore

ITC Ltd has posted a 20.62 per cent increase in its fiscal third quarter net profit, at Rs2,051.85 crore, against a net profit of Rs1,700.98 crore in the comparable quarter of the previous fiscal.

On a sequential basis, profits increased 12 per cent from Rs1,836 crore during the quarter ended 30 September 2012, ITC said in a statement.

The diversified conglomerate said the increase in net profit was mainly due to robust sales in cigarettes and agri and paper businesses.

Net sales grew 23 per cent to Rs7,627 crore up 23.1 per cent from Rs6,196.43 crore in the corresponding period last financial year.

''The growth in sales was driven primarily by branded packaged foods, personal care, agri business and cigarettes,'' said a company statement.

Revenues from FMCG business stood at Rs5,440 crore with the cigarettes category accounting for Rs3,657 crore.