India’s largest cigarette maker ITC Ltd on Thursday reported a 12.7 per cent rise in its December quarter standalone profit. net profit increased 4,156.20 crore in the quarter ended December 31, up from Rs. 3,687.88 crore a year ago, the company said in a filing to the stock exchanges.
Revenue from operations of the maker of Bingo Chips and Gold Flake cigarettes for the quarter to touch 31.6% increase from a year ago 16,806.89 crore up from 12,762.08 crore, far ahead of road expectations, according to an exchange filing by the company.
A Bloomberg poll of analysts pegged ITC to report standalone revenue of 13,263.66 crore, coming to net profit 4,792 crore. The board of the company also approved the interim dividend of 5.25 per share for the current financial year.
“Advanced vaccination coverage coupled with increased business and consumer sentiment drove broad-based growth across markets and channels, even as key indicators reflect a deceleration in the pace of improvement in rural demand,” the company said in a statement. But it flagged “unprecedented” inflation in commodity prices, rising energy costs and persistent global supply chain disruption.
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