ITC fourth quarter net jumps 19.4 percent

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SME Times News Bureau | 18 May, 2013
Cigarette-to-hotels conglomerate ITC Ltd Friday reported a 19.4 percent jump in its net profit to Rs.1,927.98 crore for the quarter ended March 31, 2013, from Rs.1,614.36 crore for the same period a year ago.

Total income of the Kolkata-headquartered firm during the fourth quarter last fiscal stood at Rs.8,511.38 crore compared to Rs.7,145.44 crore for the same period in the previous fiscal.

The company's net profit for the year ended March 31, 2013, increased to Rs.7,418.39 crore from Rs.6,162.37 crore during the 2011-12 financial year, it informed the Bombay Stock Exchange (BSE).

Total income for the full year has increased from Rs.25,972.80 crore for the year ended March 31, 2012 to Rs.30,839.97 crore for the year ended March 31, 2013.

Non-cigarette FMCG segment registered robust revenue growth of 26.4 percent and continued to demonstrate improving profitability, the firm said in a statement here.

While hospitality industry continued to be impacted by the weak economic environment and significant additions to room inventory, agri business profits grew 13.7 percent driven by better realisations and higher volumes.

The company's branded packaged foods businesses continued on a high growth trajectory, recording impressive growth in market shares and enhanced market standing across operating segments, the statement added.