ITC Q1 Results: Profit Stays Flat Even As Revenue Grows 21%

ITC Ltd.'s net profit stayed flat in the June quarter, while its revenue saw a 21% rise, according to the consolidated financial results declared by the company on Friday.

The cigarette maker posted a bottom line of Rs 4,912.36 crore, as against Rs 4,917.45 crore in the year-ago period.

The company's revenue, however, rose 20.6% to Rs 19,749.91 crore as against Rs 16,374.02 crore in the same quarter last year.

Earnings before interest, tax, depreciation and amortisation went up 3% to Rs 6,261.3 crore from Rs 6,086.8 crore while margin stood at 31.7% as against 37.2%. in the year-ago period.

• Revenue up 20.6% to Rs 19,749.91 crore versus Rs 16,374.02 crore. (Bloomberg Estimate: Rs 18,261.19 crore)

• Net profit down 0.1% to Rs 4,912.36 crore versus Rs 4,917.45 crore. (Bloomberg Estimate: Rs 5,084.86 crore)

• Ebitda up 3% to Rs 6,261.27 crore versus Rs 6,086.77 crore. (Bloomberg Estimate: Rs 6,417.26 crore)

• Margin at 31.7% versus 37.2%. (Bloomberg Estimate: 35.1%)

Shares of ITC closed 1.09% higher at Rs 416.45 apiece on the National Stock Exchange before the announcement, compared to a 0.82% decline in the benchmark Nifty. The share price has fallen 13.89% in the last 12 months and 15.65% on a year-to-date basis.