FMCG sector giant ITC has reported a standalone net profit of Rs 4,190.96 crore in the March 2022 quarter. ITC’s profits have jumped 11.80 per cent on a year-on-year basis. The company had posted a profit of Rs 3,748.42 crore in the same quarter last year. The company’s revenue from operations in the January-March 2022 quarter grew 16.02 per cent year-on-year to Rs 16,426 crore. The company’s revenue in the same quarter last year was Rs 14,156.98 crore. Analysts expected the company’s net profit to grow between 11 and 12 per cent.
The company received a final dividend of Rs 6.25
The Board of Directors of ITC has recommended a final dividend of Rs 6.25 for the financial year ended March 31, 2022. The final dividend will be paid between 22-26 July 2022. In addition to the final dividend, ITC has declared an interim dividend of Rs 5.25 per share in February this year.
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Strong revenue growth of 35.39% in hotel business
The revenue of the company’s cigarette business grew by 9.96 per cent to Rs 6,443.37 crore. At the same time, non-cigarette FMCG revenue grew by 12.32 per cent to Rs 4,141.97 crore over the same period last year. The company’s hotel business has registered a strong revenue growth of 35.39 percent. The company has said that the revenue from the agri business has increased by 29.60 percent. Ahead of the results, ITC shares closed at Rs 266.50 with a gain of 0.68 per cent on the NSE on Wednesday. The company’s shares have gained about 21 per cent so far this year.
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