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ITC Q1 net up 20% at Rs 1,602 cr

Diversified business firm ITC Ltd on Thursday posted 20.21 per cent rise in net profit to Rs 1,602.14 crore for the first quarter ended 30 June 2012, on the back of robust sales across non-cigarette FMCG businesses.

The Kolkata-based firm had posted a net profit of Rs 1,332.72 crore during the same period 2011-12, according to an ITC statement.

Net sales of the company rose to Rs 6,552.21 crore for the April-June quarter of 2012-13, as compared to Rs 5,767.47 crore during the same period of the last financial year. In the FMCG segment, including cigarettes vertical, the company posted net revenues of Rs 4,777.29 crore during the quarter, compared to Rs 4,071.32 crore in the same period of 2011-12.

The non-cigarette FMCG business – comprising branded packaged food, personal care, education and stationery – posted net revenues of Rs 1,473.05 crore during the quarter, up 22.98 per cent from same period of previous fiscal.

In the branded packaged foods category of the FMCG segment, the company said it enhanced market standing across categories and posted significant growth in revenues during the quarter.

‘Sales of value-added and premium products grew at a faster pace based on an enriched portfolio mix. Improvement in profitability was further aided by smart commodity sourcing and several strategic cost management initiatives,’ ITC said.
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