ITC reported a 15.6 per cent growth in its net profit at Rs.2,186.4 crore for the three-month period ended June 30, 2014, against Rs.1,891.3 crore in the same period a year ago.
The diversified major saw a 24.9 per cent rise in its net sales, which stood at Rs.9,164 crore during the quarter under review. There was robust growth in agri business revenues driven by trading opportunities in wheat, soya and coffee. Non-cigarette business, too, did well. ITC operates in four major segments. FMCG, which includes cigarettes and other consumer goods, hotels, agri business and paper boards, and paper and packaging. Barring hotels, which, the company said, was impacted by adverse demand-supply scenario, both non-cigarette FMCG and paper segment saw a 10 per cent rise in revenues.
Hotels business remained flat with a slight dip in its revenues. The segment results, which were in the red, included additional depreciation charge of Rs.14.3 crore due to revision in useful life of fixed assets in accordance with Companies Act, 2013, ITC said in a statement.
During the quarter, personal care products business expanded its portfolio.
