ITC closed the third quarter of fiscal 2012 with a 22.5 per cent rise in its post-tax profit at Rs.1,700.90 crore while net turnover, at Rs.6,195.40 crore, reflected a 14.2 per cent growth.
ITC raked in a revenue of about Rs.4,603 crore during the quarter under review from the FMCG segment where there was brisk business aided by price increase in key products. The profit increased to Rs.1,797.60 crore in the three-month period ended December 31, 2011, from Rs.1,459.40 crore in the comparative period last year. The rise is smaller when compared with that of the second quarter of this fiscal when the FMCG revenue stood at Rs.1,673 crore.
Revenue from the hotels business during the quarter was impacted by weak macroeconomic environment in the U.S. and Europe, the two key source markets. The slowdown in the domestic economy too left an imprint resulting in a flat revenue growth. Profit, however, rose by 15 per cent to Rs.102 crore. ITC's investments in this segment were on track and a luxury property in Colombo is on anvil now. Driven by higher trade volumes and improved realisations in leaf and wheat, agri-business grew to Rs.1,139.40 crore from Rs.1,037.50 crore with profit increasing by 10 per cent.
Keywords: ITC profit