ITC profit rises 10% to Rs 3,714 cr amid strong pick up in all segments

New Delhi : Cigarette-to-hotel conglomerate ITC reported 10 per cent growth in consolidated net profit at Rs 3,714 crore for the quarter ended September 30, 2021 (Q2FY22) on the back of a strong pick-up across all operating segments after severe disruptions in Q1.
The company had reported a net profit of Rs 3,366 crore in the year-ago period when the Covid-19 disruptions had severely impacted economic activity and demand shrank.
On a sequential basis, the net profit has risen 13 per cent from a level of Rs 3,276 crore in the April-June quarter of current fiscal.
The company’s revenue from operations rose 13 per cent in Q2 to Rs 1 4,844 crore from a level of Rs 13,147 crore in the same quarter last year. The FMCG major’s earnings before interest, tax, depreciation and amortisation stood at Rs 5,017 crore in July-September quarter.
The company said that its strategy that brought focus on innovation, digitalisation, product mix, operational efficiencies has been responsible is driving growth and improving margins across business segments.
ITC’s strategic investments in creating state-of-the-art integrated consumer goods manufacturing and logistics infrastructure, and nurturing of sustainable agri and fibre value chains are providing significant competitive advantage, and the same is being reflected in the growth numbers, the company said.