ITC reports a 26% fall in Q1 net profit; Revenue fell 17%

ITC reports a 26% fall in Q1 net profit; Revenue fell 17%

India’s FMCG major ITC posted a 26 percent (YOY) fall in independent net profit of Rs 2,342.76 crore for the quarter ended July 30, 2020.

The company had posted a net profit of Rs 3,173.94 crore in the same quarter a year ago.

This number came in better than market expectations. CNBC-TV18 poll estimates net profit for June at Rs 2,220 crore.

ITC’s operating income fell 17.4 percent to Rs 9,501.75 crore in Q1FY21. CNBC-TV18 poll estimates June quarter revenue at Rs 8,650 crore.

Cigarette revenue in Q1FY21 was Rs 3,853.79 crore, down 29 percent from Rs 5,433.40 crore in Q1FY20. Cigarette EBIT fell 38.8 percent to Rs 3,356.4 crore. Rs 3,849.1 crore.

Total income from the FMCG segment fell to Rs 7,228.36 crore in Q1 from Rs 8,493.45 crore in the same quarter last fiscal.

ITC

Q1 EBITDA stood at Rs 2,646.7 crore. In Q1 FY20, it was down 42 percent to Rs 4,565.9 crore. EBITDA margin was 39.7 percent to 27.8 percent from YOY.

According to a CNBC-TV18 poll, EBITDA has a margin of Rs 2,700 crore and an EBITDA margin of 31.2 percent.

Related posts

Shares of Minda Industries rose 5% after the board fixed the price for a Rs 250 crore rights issue

Janardhan Peddi

Top Losers and Gainers in the D-street: Stock Market June 29th

Tarun

Apollo Hospitals Enterprises Shares Rose Over 2%

nagalavanya