ITC Q3 Profit Likely To Rise More than 18 Per cent Says Brokerages
ITC Q3 profit might rise over 18 per cent. The company is scheduled to declare its Q3 earnings today. So the brokerages came up with their Q3 earnings estimates. They foresee that the company may post double-digit growth in profit due to lower corporate tax for the third quarter ended on December 31, 2019.
By and large, the brokerages believe that there would be over 18 per cent YoY growth in the bottom line for Q3FY20. While they expect that the top line growth could be led by segments such as Hotels, Agri, Cigarette, FMCG, and Paper.
As per the brokerages, Hotel segment might see more than 15 per cent YoY growth and Agri segment see over 10 per cent YoY growth. While Cigarette segment growth would be around 2.5-3.5 per cent. FMCG, and Paper segments growth probably around 6-8 per cent.
The brokerage firm Kotak Institutional Equities predicts that cigarette volumes likely to increase 2.5 per cent YoY. It also stated that there would a 3.5 per cent rise in realisation. Besides, it assumes that there would be a 18.4 per cent YoY rise in profit and 7.2 per cent YoY rise in revenue.
According to PhillipCapital, the ITC Q3 profit would rise 20 per cent and revenue increase 5.5 per cent. EBITDA likely to rise 7 to 12 per cent YoY. Margin would improve over 100 bps YoY in December quarter, 2019.