NEW DELHI, Jan 21 (Economic Times): ITC Ltd today reported a
consolidated net profit of Rs 26.40 billion, up 10.7 per cent YoY, for
the third quarter ended December 31, 2014, which was largely in line
with ET Now estimates of Rs 26 billion.
The FMCG major posted a net profit of Rs 23.85 billion in the corresponding quarter of last fiscal, ITC said in a filing to the BSE today.
ITC finally closed 5.01 per cent lower at Rs 352.60. The stock slipped as much as 5.9 per cent to hit its intraday low of Rs 349.20.
Total sales increased marginally by 2 per cent YoY to Rs 88 billion, which was slightly below than the ET Now estimate of Rs 97 billion.
Diversified conglomerate ITC reported consolidates sales of Rs 97 billion in the corresponding quarter of last fiscal.
Earnings from the company's FMCG business, including cigarettes, increased by 4.23 per cent to Rs 64.56 billion, while that from the non-FMCG business section grew by 0.31 per cent to Rs 95.83 billion.
Cigarette volumes for the quarter declined by 12-13 per cent, according to the management, with cigarette EBIT growth also disappointing at 8.8 per cent YoY. Most of the other businesses also were lacklustre with FMCG sales growing by 11.4 per cent YoY.
The FMCG major posted a net profit of Rs 23.85 billion in the corresponding quarter of last fiscal, ITC said in a filing to the BSE today.
ITC finally closed 5.01 per cent lower at Rs 352.60. The stock slipped as much as 5.9 per cent to hit its intraday low of Rs 349.20.
Total sales increased marginally by 2 per cent YoY to Rs 88 billion, which was slightly below than the ET Now estimate of Rs 97 billion.
Diversified conglomerate ITC reported consolidates sales of Rs 97 billion in the corresponding quarter of last fiscal.
Earnings from the company's FMCG business, including cigarettes, increased by 4.23 per cent to Rs 64.56 billion, while that from the non-FMCG business section grew by 0.31 per cent to Rs 95.83 billion.
Cigarette volumes for the quarter declined by 12-13 per cent, according to the management, with cigarette EBIT growth also disappointing at 8.8 per cent YoY. Most of the other businesses also were lacklustre with FMCG sales growing by 11.4 per cent YoY.
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