ITC’s Q2 net profit flat at Rs.2,431.25 crore

Kolkata, Oct 30 (IANS) FMCG major ITC Ltd said on Friday that its standalone profit for remained flat at Rs.2,431.25 crore for the second quarter ended September 30 this year as against Rs 2,425.16 crore in the same timeframe last year.

In a regulatory filing with the Bombay Stock Exchange, the company said its net sales declined by 1.4 percent at Rs.8,804.70 crore in the quarter under review as against Rs.8,930.32 crore in the same quarter last fiscal.

Its total earnings from the FMCG business registered an increase of 3.44 percent at Rs.6,668.80 crore in the timeperiod under review as against Rs.6,446.87 crore last year. In this segment, its cigarette business grew by 1.5 percent at Rs.4,317.18 crore as against Rs.4,250.86 crore.

The hotels business saw a healthy rise of 10.87 percent in its revenue at Rs.290.04 crore while the agri business declined by 10.44 percent at Rs.1,843.74 crore.

Earnings from the paperboard and packaging business also fell by 2.33 percent at Rs.1,254.14 crore as compared to Rs.1,284.07 crore.

Shares of the Kolkata-based company were trading at Rs.334.70 – down by 4.30 percent – on the BSE at 4 p.m.

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