The shares of ITC, the FMCG, and the hotel conglomerate surged more than 4 per cent on the NSE (National Stock Exchange), and the company declared their quarterly earnings report, which showed a 3 per cent increase in net profit to Rs 5,078.3 crore compared to Rs 4,927 crore in the corresponding quarter of the previous financial year.
The shares of ITC surged to a day high level of Rs 493.50 after hitting the opening bell at Rs 475.80 per share on the Indian stock exchanges. The stock has recorded an all-time high level of Rs 528.50 per share on the Indian bourses.
The stock was currently trading at Rs 491.75 per share on the Indian stock exchanges, with a substantial gain of 4.25 per cent amounting to Rs 20.05 per share on the NSE (National Stock Exchange).
ITC Q2 FY25
In its July-September quarter results for fiscal 2024-25 (Q2 FY25), ITC Ltd. reported a 3 per cent increase in net profit to Rs 5,078.3 crore, up from Rs 4,927 crore during the same period the previous year.
In the second quarter of the current fiscal year, the tobacco-to-hotels conglomerate’s operating revenue increased 17 per cent to Rs 9,327.8 crore, up from Rs 16,550 crore in the same period last year.
Revenue from total FMCG business
ITC revenue from the ‘total FMCG’ segment, which includes the cigarette business, increased 6.1 per cent to Rs 14,463.15 crore during the quarter. In the corresponding September quarter, it was Rs 13,631.46 crore.
In the July-September quarter of this fiscal year, cigarette revenue climbed 6.6 per cent to Rs 8,877.86 crore. In the same quarter of the previous fiscal year, it was Rs 8,328.21 crore.
Agri and paper business
In the September quarter of FY25, the agribusiness soared 46.57 per cent to Rs 5,845.25 crore, driven primarily by value-added agriproducts and leaf tobacco.
ITC’s ‘paperboards, paper, and packaging’ segment generated Rs 2,114.18 crore, a 2.14 per cent increase in revenue.
