ITC Q4 net rises 18.7% to Rs3,482 cr
13 May 2019
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Diversified group ITC Ltd has reported an 18.72 per cent increase in its fiscal fourth quarter net profit to Rs3,482 crore compared with the Rs2,932 crore profit reported in the comparable quarter of the previous financial year.
Profit for the January-March 2018-19 quarter was boosted by a 13 per cent increase in its fourth quarter revenue to Rs11,992 crore from Rs10,587 crore in the year-ago quarter.
ITC’s operating profit or earnings before interest, tax, depreciation and amortization (EBITDA) stood at Rs4,572 crore, with an operating margin of 38.1 per cent.
The company's cigarette sales rose 11.1 per cent to Rs5,486 crore. Operating profit from cigarette business was up 10 per cent at Rs3,856 crore, while margin was at 70.3 per cent.
Total revenue from consumer goods business of the company was up 9.7 per cent at Rs8,760 crore against Rs7,988 crore in the fourth quarter of the previous fiscal. Operating profit was up 12.8 per cent at Rs4,057 crore, while margin stood at 46.3 per cent.
ITC’s agri business revenue rose 16.2 per cent to Rs2,101 crore from Rs1,808 crore in the year-ago quarter.
The board of directors of the company appointed Sanjiv Puri, managing director, also as the chairman of the company with effect from 13 May 2019. The announcement comes in the wake of the passing away of former chairman Y C Deveshwar.
"The board of directors of the company at the meeting held today appointed Sanjiv Puri, Mmanaging Ddirector, also as the chairman of the company with effect from May 13, 2019. Consequently, Puri's new designation is chairman and managing director of the company," ITC said in its regulatory filing.
The board also recommended a dividend of Rs5.75 per ordinary share.
