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Diversified entity <keyword id="6357073" type="General" weightage="20" keywordseo="itc" source="Orion">ITC</keyword> Ltd on Thursday reported a 22.66 per cent rise in consolidated net profit at Rs 5,225.02 crore in the fourth quarter ended March 2023. The company had posted a consolidated net profit of Rs 4,259.68 crore in the year-ago period, ITC Ltd said in a regulatory filing. Its consolidated revenue from operations stood at Rs 19,058.29 crore against Rs 17,754.02 crore in Q4 FY22. The total expenses also rose to Rs 12,907.84 crore from Rs 12,632.29 crore a year ago. For the fiscal ended March 31, 2023, consolidated net profit was Rs 19,427.68 crore compared to Rs 15,485.65 crore in FY22. In FY23, its consolidated revenue from operations stood at Rs 76,518.21 crore against Rs 65,204.96 crore in the year-ago period. SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/the-1-percent-club-heres-the-net-wealth-required-in-india-and-other-countries/slidelist/100326422.cms">The 1 percent club: In India, ₹1.4 cr can make the cut but in US you need 30x more</a> <a href="https://www.businessinsider.in/tech/news/apple-app-store-prevented-over-2-billion-in-fraudulent-transactions-last-year-banned-282-million-user-accounts/articleshow/100322718.cms">Apple App Store prevented over $2 billion in fraudulent transactions last year, banned 282 million user accounts</a> <a href="https://www.businessinsider.in/business/auto/news/electric-scooters-and-bikes-may-get-costlier-as-government-looks-to-revamp-the-fame-ii-scheme/articleshow/100321089.cms">Electric two wheelers may get costlier as government looks to revamp the FAME-II scheme</a>

ITC Q4 net profit rises 22.66% to ₹5,225 crore

<ul><li>ITC re-measured its annual tax expenses after the government reduced the corporate tax rate. </li><li>Its profits were boosted by a ₹166 crore tax credit for the quarter. </li><li>Its revenues grew by a modest 6% for the quarter to ₹12,525 crore. </li></ul> ITC’s second quarter net profit jumped by 36% to ₹4,023 crore from ₹2,954 crore in the same quarter last year, all thanks to a deferred tax credit worth ₹166 crore for the quarter. Its revenues grew by a modest 6% for the quarter to ₹12,525 crore as compared to ₹11,776 crore in the same quarter last year. The company remeasured its annual tax expenses after the government changed the corporate tax rate. “The resultant impact is being recognized over the current and the remaining quarters of the financial year. Consequently, the tax expense for the current quarter and six months ended September 30, 2019 includes a credit of ₹340 crore,” ITC said in a statement with the quarterly results announcement. The company’s stock traded flat in anticipation the quarterly earnings report, as it went up by 0.8% in today’s trade. ITC has set ambitious targets for itself to generate as much as ₹1 lakh crore in revenue from its FMCG business by 2030. Last financial year, its sales from cigarattes fell to 45.8% as its hotels and FMCG divisions performed well. Lowering tobacco sales is good news as steep increases in taxes by government has been hurting the business. “Trading volumes in illegal cigarettes has affected such business. Thereby, now the consumer business i.e. the foods division, comprising of cookies, staples and snacks, now accounts for 21.3% of revenue, while agri-business generated 13.4% of ITC’s gross turn-over last fiscal,” said a report by Rudra shares in October.

ITC’s net profit jumps by 36% to ₹4,023 crore on tax credit

New Delhi, Jan 31 () FMCG major ITC on Friday reported a 29.03 per cent increase in its consolidated net profit at Rs 4,047.87 crore for the third quarter ended December 2019.
 The company had posted a net profit of Rs 3,136.95 crore in the October-December quarter of the previous fiscal.
Net sales during the quarter under review stood at Rs 13,220.30 crore, up 5.71 per cent, as against Rs 12,506.05 crore in the corresponding period a year ago, ITC said in a regulatory filing.
Total expenses for the said period were at Rs 8,779.14 crore as compared with Rs 8,340.61 crore, up 5.25 per cent.
Shares of ITC Friday settled at Rs 235.25 apiece on the BSE, up 0.60 per cent from their previous close. KRH MKJ

ITC Q3 net profit jumps 29 pc at Rs 4,047.87 crore

New Delhi, Jan 31 () FMCG major ITC on Friday reported a 29.03 per cent increase in consolidated net profit at Rs 4,047.87 crore for the third quarter ended December 2019.
 The company had posted a net profit of Rs 3,136.95 crore in October-December quarter of the previous fiscal.
 Net sales during the quarter under review rose 5.71 per cent to Rs 13,220.30 crore as against Rs 12,506.05 crore in the corresponding period in previous fiscal, ITC said in a regulatory filing.
 "The company posted a steady performance during the quarter amidst a particularly challenging operating environment," ITC said in a post earning statement.
 According to the company, the macro-economic environment continues to be adversely impacted as reflected in deceleration in GDP growth and persistent weakness in consumption demand and investments.
 "Delayed arrival of the Kharif crop due to spatial variations in rainfall, especially close to the harvest season, commodity price inflation together with disruptions in certain parts of the country exacerbated the already challenging operating environment during the quarter," ITC said.
 "Expectations of a good Rabi crop and a slew of measures announced by the government in recent months including reduction in corporate tax rates, initiatives to boost infrastructure and promote exports, augur well for the revival of the economy," it added.
 ITC's total expenses during the third quarter rose 5.25 per cent to Rs 8,779.14 crore as compared with Rs 8,340.61 crore in the year-ago quarter.
 During the quarter, revenue from total FMCG business was up 4.66 per cent to Rs 9,265.31 crore as against Rs 8,852.05 crore in the year-ago period. 
 Total FMCG business comprises segments like cigarettes and FMCG-others.
 Revenue from cigarettes stood at Rs 5,944.86 crore in the October-December quarter, up 5.31 per cent from Rs 5,645.05 crore in the corresponding period last fiscal.
 "Performance during the quarter reflects the persistent weakness in the overall demand environment, especially in rural markets and wholesale channel, tight market liquidity conditions and the increasing salience of illicit trade especially at the premium end," ITC said.
 Revenue from FMCG-others segment was up 3.53 per cent to Rs 3,320.45 crore as against Rs 3,207 crore a year ago.
 "The FMCG-Others Segment delivered a resilient performance during the quarter which witnessed a slowdown in overall growth rates both in urban and rural markets. Categories with relatively higher rural salience remain the most impacted," it said.
 FMCG-others segment of ITC consists of branded packaged foods like staples, snacks, meals, dairy and beverages, confections, apparel, education and stationery products, personal care products, safety matches and incense sticks.
 ITC's hotel business revenue rose 21.13 per cent to Rs 574.26 crore during the quarter as compared with Rs 474.06 crore in the corresponding period last fiscal.
 "The business posted a strong performance during the quarter with segment revenue and segment EBITDA growing by 22.2 per cent and 40.1 per cent respectively. There was all-round improvement, with both existing and new properties recording robust increase in RevPAR (revenue per available room) and F&amp;B sales. Higher room rates and operating leverage aided margin expansion," ITC said.
 Revenue from agri-business segment rose 10.43 per cent to Rs 2,258.87 crore as against Rs 2,045.38 crore in the December quarter of the previous fiscal.
 "In the agri business segment, growth in segment revenue was driven by trading opportunities in oilseeds, pulses &amp; coffee and scaling up of value added segments (spices and frozen snacks)," ITC said.
 Subdued demand for leaf tobacco in international markets accentuated by relatively steeper depreciation in currencies of competing origins and adverse business mix weighed on segment results, it added.
 Paperboards, paper and packaging segment revenue rose marginally by 0.83 per cent to Rs 1,555.36 crore as against Rs 1,542.51 crore of Q3/FY2018-19
 "Paperboards, paper &amp; packaging segment revenue witnessed muted growth on a relatively firm base due to slowdown in the FMCG and liquor industry and depressed realisations on softening of global pulp prices," the company said.
 Revenue from others segment, which includes information technology services, branded residences, among others, reported a 9.99 per cent growth at Rs 563.69 crore as against Rs 512.48 crore.
 In a separate filing, ITC said its board has appointed Atul Jerath as Additional Non-Executive Director of the company.
 Jerath is the Chief Underwriting Officer of The Oriental Insurance Company Ltd, overseeing a wide portfolio including property, health and aviation insurance, it added.
 Shares of ITC on Friday closed 0.60 per cent higher at Rs 235.25 apiece on the BSE. KRH RVK

ITC Q3 net profit up 29 pc at Rs 4,047.87 crore

<ul><li>At 7:50 am, the SGX Nifty was up 0.52%, indicating a positive start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open in green on Monday, on the back of positive cues from the Asian peers. At 7:50 am, the SGX Nifty was up 0.52%, indicating a strong start for Nifty50. Other Asian markets were also trading in green such as — Hang Seng Index up over 1.1%, Nikkei 225 up 2% and Shanghai Composite Index was also up over 1%. These are the stocks to watch out for during the trading session today: Cipla The pharma giant Cipla reported a 38.95% jump in its consolidated net profit to ₹659.35 crore for the quarter ended September 30, led by the robust sales in all markets. The company said a sustained focus on cost optimisation during the quarter helped deliver an EBITDA (earnings before interest, taxes, depreciation, and amortization) margin of over 23%. The shares of Cipla ended 0.62% lower on Friday. ITC On Friday, Consumer staples-to-hospitality major ITC reported an 18.23% drop in its consolidated net profit to ₹3,413.44 crore. The drop came despite a 2.18% growth in its revenue from operations to ₹13,147.81 crore during the period under review. Its FMCG segment delivered a decent sales growth of 15.4% (YoY), but wasn’t enough to offset the volume decline of 12% in its cigarette segment. The shares of ITC ended 0.54% lower on Friday. Divi’s Labs Drug firm, Divi’ ’s Laboratories, reported a 45.63% rise in its consolidated net profit to ₹519.59 crore for the quarter ended September 30, mainly on account of robust sales. Consolidated total income stood at ₹1,762.94 crore compared to ₹1,492.60 crore for the same period a year ago. The shares of Divi’s Labs ended 0.40% higher on Friday. Biocon Kiran Mazumdar Shaw-led Biocon’s subsidiary, Biocon Biologics, had received a ₹1,125 crore investment from Goldman Sachs. This capital injection will enable Biocon Biologics to make prudent investments in R&amp;D, high-quality manufacturing, as well as, establish a global commercial footprint, the company said. The shares of Biocon ended 0.17% higher on Friday. Lakshmi Vilas Bank Private sector Lakshmi Vilas Bank (LVB) reported a net loss of ₹397 crore in the second quarter ended September 30 due to a rise in bad loans and provisions. Sequentially, the loss widened against ₹112.28 crore in the June quarter of this fiscal. The<a href="https://www.financialexpress.com/industry/banking-finance/made-significant-progress-with-clix-group-says-lakshmi-vilas-bank/2123468/"> bank also said</a> that despite logistical challenges arising due to the COVID-19 situation, the bank has made significant progress with Clix group for the proposed amalgamation of Clix Capital Service and Clix Finance India into the bank. The shares of Lakshmi Vilas Bank ended 0.64% higher on Friday. Voltas Electronics major Voltas reported 25.74% decline in consolidated net profit to ₹79.66 crore for the quarter ended September 30. The company also decided to restructure its business; it would transfer 100% of the B2B businesses to its wholly-owned subsidiary — Rohini Industrial Electricals Ltd (RIEL). The shares of Voltas ended 1% higher on Friday. Vedanta Vedanta reported a 61.8% decline in consolidated net profit to ₹824 crore for the quarter ended September 30, on the back of one-time tax expense. The decline came despite the stellar 33% growth in its revenue to ₹20,804 crore during the quarter under review. The shares of Vedanta ended 0.21% higher on Friday. Tata Consumer Products Tata Consumer Products reported an 18% rise in consolidated net profit to ₹234.33 crore for the quarter ended September 30, helped by an increase in domestic sales and volumes. Its revenue from operations was up 18.50% to ₹2,781.34 crore during the quarter under review. The shares of Tata Consumer Products ended 0.64% higher on Friday. IndiaMART InterMESH, Equitas SFB and VIP Industries IndiaMART InterMESH, Equitas SFB and VIP Industries are slated to report their second-quarter earnings today. SEE ALSO: <a href="https://www.businessinsider.in/science/news/the-world-has-surpassed-50-million-confirmed-coronavirus-cases/articleshow/79116745.cms">The world has surpassed 50 million confirmed coronavirus cases</a> <a href="https://www.businessinsider.in/politics/world/news/this-is-the-time-to-heal-in-america-president-elect-joe-biden-uses-his-victory-speech-to-address-a-fractured-country/articleshow/79108211.cms">'This is the time to heal in America': President-elect Joe Biden uses his victory speech to address a fractured country</a>

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ITC Q4 net profit rises 22.66% to ₹5,225 crore

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ITC’s net profit jumps by 36% to ₹4,023 crore on tax credit

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ITC Q3 net profit jumps 29 pc at Rs 4,047.87 crore

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ITC Q3 net profit up 29 pc at Rs 4,047.87 crore

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Top stocks to watch — ITC, Biocon, Tata Consumer, Cipla, Divi’s Labs, Voltas, IndiaMART, Equitas SFB, and others

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