ITC reports 12 per cent increase in net profit

ITC which has business interests in cigarette, FMCG, paper, agri and hotel sector has reported its second quarter result of FY19. 

The company’s standalone revenue for second quarter of FY19 came in at Rs. 11,272.51 crore, registering 15.5 per cent yoy increase. This was primarily driven by growth across the divisions. FMCG business (including cigarette) grew by almost 11 per cent yoy. Further, Agri and paper business recorded growth of 12.8 per cent and 9 per cent, respectively. 

EBITDA for the quarter rose by 11.8 per cent yoy to Rs. 4,206 crore. However, EBITDA margin contracted by 121 bps to 37.3 per cent. The PAT for the quarter came in at Rs. 2,954.67 crore, yoy increase of 11.9 per cent. 

Meanwhile, the stock of ITC in Friday’s trading session traded in the negative zone and closed at Rs. 280.7 per share, down by almost 2.30 per cent from its previous close of Rs. 287.3 apiece.