For the first time, ITC’s non-cigarette business reported a profit, boosting the fourth quarter results of the multi segment conglomerate. For the quarter ended March 31, 2013, ITC posted a net profit of Rs. 1,927.9 crore, marking a 19.42 per cent rise in its net profit for the quarter. Net sales rose to Rs. 8,180.30 crore for the quarter under review, compared to Rs. 6,861.35 crore in the same period of previous fiscal.
For the year ended March 31, 2013, ITC’s net turnover increased by 19.4 per cent to touch Rs. 29,605.50 crore, primarily driven by a 26.4 per cent growth in non-cigarette FMCG segment.
ITC’s net profit for 2012-13 rose by 20.38 per cent to Rs. 7,418.39 crore, as against Rs. 6,162.37 crore in 2011-12 a company statement said.
The company’s board recommended a dividend of Rs. 5.25 per share of Re 1 each for the year. A review of the segment results show that non- cigarette FMCG has posted Rs. 11.8 crore profit during the fourth quarter against a loss of Rs. 16.6 crore in the year-ago period. Revenues increased by 26.4 per cent.
The company said that its performance was even more encouraging when viewed against the backdrop of the extremely challenging business context. It said that there was muted growth in hotels business but the company continued with its investment-led strategy. Its agri business profits grew by 13.7 per cent driven by volumes and better realisations while its paper boards and packaging segment saw a 9.1 per cent revenue growth even as profitability was impacted by higher inputs costs.
