ITC posts profit of Rs 5,013.16 cr in Q3, revenue up 9% to Rs 20,349.96 cr

New Delhi: Diversified entity ITC Ltd on Thursday reported a 7.27 per cent decline in consolidated net profit to Rs 5,013.16 crore for the December quarter on account of subdued demand and sharp escalation in input costs.

The company had posted a consolidated net profit of Rs 5,406.52 crore in the year-ago period, according to a regulatory filing from ITC.

ITC’s revenue from operations was up 9.05 per cent to Rs 20,349.96 crore in the December quarter. It was Rs 18,660.37 crore in the corresponding quarter of the previous fiscal year.

The company had a “resilient performance amidst a subdued demand environment & sharp escalation in input costs”, ITC said in an earnings statement.

Key input materials as edible oil, wheat, potato, leaf tobacco, wood and packaging inputs witnessed a sharp cost escalation during the quarter, the Kolkata-headquartered firm added.

Its revenue from gross sale of products and services of ITC was Rs 20,140.15 crore, up 8.74 per cent, in the December quarter.

ITC’s total expenses were 12.18 per cent higher during the quarter to Rs 14,413.66 crore.

The total income of ITC, which includes other income, rose 8.47 per cent to Rs 20,945.82 crore. It was Rs 19,308.85 crore a year ago.

During the quarter, ITC’s revenue from the ‘total FMCG’ segment, which also includes the cigarettes business, was up 6.35 per cent to Rs 14,372.53 crore. It was Rs 13,513.43 crore in the corresponding September quarter.

Revenue from the cigarette business was up 7.83 per cent to Rs 8,944.83 crore during the quarter of this fiscal year. It was Rs 8,295.18 crore in the corresponding quarter of the previous fiscal year.

ITC’s revenue from the FMCG-others segment was also up 4 per cent to Rs 5,427.7 crore during the quarter under review. The growth in the segment was driven by atta, spices, snacks, frozen snacks, dairy, premium personal wash, homecare and agarbatti.