ITC Q4 results: Net profit decreased 9% to Rs. 3,797.00 crore for FY20
ITC Q4 results: It is a conglomerate company in India located in Kolkata, West Bengal. The company was established in 1910 as an “Imperial Tobacco Company in India” later it renamed as “India Tobacco Company Limited”. After in 1974, it renamed as I.T.C Limited. Whereas, the company manufactures Cigarettes, Bidi, and Food with the brand name as ITC.
Meanwhile, on Friday, June 26th, the company reported its Q4 results for the financial year 2019-20. The companies consolidated net profit decreased by 9.05% to Rs. 3,797.08 crores in Q4FY20. While the company also posted its net profit of Rs. 3,481.90 crores in the same quarter last financial year. But, the analyst expected the net profit at Rs. 3,739.30 crores in Q4FY20.
Besides, the company’s total revenue from operations stood at Rs. 11,420.04 crores in this quarter ended on March 31st, 2020. While the company also posted its total revenue of Rs. 12,206.03 crores in the same quarter last fiscal year.
Whereas, the companies EBITDA growth reported at Rs. 4,163.50 crores as against the analyst expectations of Rs. 4,495.06 crores in the Q4FY20. While the companies margins reported at 36.5% to Rs. 4,495.06 crores.
On the other side, the companies interim dividend for this quarter posted at Rs. 10.15 per each equity share.
“The company revenue from cigarettes stood at Rs. 5,130.50 crores as against Rs. 5,485.92 crores in the same quarter last year. Just as the business environment was showing signs of an incipient recovery at the beginning of the fourth quarter, the onset of Covid-19 pandemic changed the situation dramatically,” ITC said.
However, ITC Limited reported a bearish trend in the stock market on Friday. The company lost 6.20 points with a 3.07% decrease and reached 195.90 INR. While in BSE, the company lost 6.20 points with a 3.07% increase and reached 195.90 INR.
Stock Market June 26th:
On Friday, both Sensex and Nifty reported a bullish trend in the stock market after bearish reports in the last two sessions. The Sensex is trading above 35,100 levels and Nifty is trading above 10,300 levels in the stock market. The Sensex gained 329.17 points with a 0.94% increase and reached a 35,171.27 level. While Nifty gained 94.10 points with a 0.91% increase and reached 10,383.00 level.
On the other side, the number of coronavirus cases in India reached 5,08,953 as of Saturday, June 27th, and deaths reached 15,685.
In the border market, the S&P BSE SmallCap reported a bullish trend in the stock market on Friday. It gained 24.14 points with a 0.19% increase and reached 12,630.28 level. The S&P BSE Midcap gained 36.01 points with a 0.27% increase and reached a 13,258.44 level. While Nifty Bank gained 85.90 points with a 0.40% increase and reached 21,592.05 level.
Top Gainers on June 26th: Infosys, BPCL, IOC, TCS, and Indusind Bank are the top gainers in today’s stock market.
Top Losers on June 26th: Bharti Infratel, ITC, Bajaj Finance, Tata Motors, and Kotak Mahindra are the top losers in today’s stock market.