Kolkata: Diversified conglomerate ITC Ltd has witnessed a marginal rise in net profit in the first quarter of this fiscal to Rs 4,917 crore. The figure stood at Rs 4,902 crore during the same period last year.
The gross revenue, at Rs 18,077 crore, was up 7.3% Y-o-Y. This was largely due to the performance of its FMCG, tobacco and hotel businesses.
The company said that FMCG delivered resilient performance under subdued demand conditions.While green shoots of demand recovery emerged during the quarter in paperboards and paper and packaging segments, performance was impacted largely due to cheap Chinese supplies in international markets, including India, and a surge in domestic wood prices.
The segment revenue and PBIT for FMCG was up by 6.3% and 10.4%, respectively, during the quarter. “Staples, snacks, dairy, personal wash, fragrances, homecare and agarbatti drove growth and segment EBITDA margin expanded 25 bps Y-o-Y to 11.3%,” it added.
According to ITC, hotels segment revenue was up 10.9% Y-o-Y and segment PBIT was up 11.5% Y-o-Y. ITC operationalised 7 managed hotels with approximately 460 keys during the quarter.