Millennium Post

ITC Q4 net rises 19%, FY13 profit up 20% to Rs7,418 cr

ITC ltd, a leading conglomerate,  on Friday posted 19.42 per cent rise in net profit at Rs 1,927.98 crore for its fourth quarter ended 31 March, driven by robust performance in cigarettes, FMCG and agri segments.

The company had posted a net profit of Rs 1,614.36 crore in the January-March period in 2011-12. Net sales of the company in Q4, 2012-13 rose to Rs 8,180.30 crore, compared to Rs 6,861.35 crore in the same period of previous fiscal, ITC Ltd said in a statement.

"This performance is even more encouraging when viewed against the backdrop of the extremely challenging business context in which it was achieved," the company said.

ITC highlighted the continued economic slowdown, steep increase in taxes/duties on cigarettes, gestation costs relating to the new FMCG businesses as some of the major hurdles during the period under review.

The Kolkata-based firm's net profit for the year ended 31 March, 2013, rose by 20.38 per cent to Rs 7,418.39 crore, as against Rs 6,162.37 crore in the 2011-12 fiscal.

Net sales of the company rose to Rs 29,605.58 crore for the year ended March 31, 2013, compared to Rs 24,798.43 crore in the 2011-12 financial year. During the fourth quarter, the company's cigarettes business grew by 11.48 per cent to Rs 3,623.23 crore, compared to Rs 3,249.88 crore in the same period of previous fiscal.

The company's non-cigarettes FMCG business grew by 25.96 per cent to Rs 2,036.20 crore in the fourth quarter, as against Rs 1,616.50 crore in the same period of previous fiscal. During the period under review, the company said its hotel business grew by 10.35 per cent to Rs 315.45 crore, compared to Rs 285.84 crore in the same period of 2011-12 fiscal. The company said revenues from agri business grew by 31.12 per cent to Rs 1,854.46 crore during the fourth quarter, compared to Rs 1,414.22 crore in the corresponding period of last fiscal.
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