ITC net profit rises 25.81 percent in second quarter (Lead)
October 23rd, 2009 - 4:08 pm ICT by IANS ( Leave a comment )Mumbai/Kolkata, Oct 23 (IANS) Tobacco, hospitality and paper products giant ITC posted a 25.81 percent increase in net profits at Rs.1,009.91 crore for the quarter ended Sep 30, compared to Rs.802.72 crore in the corresponding quarter the last fiscal.
Its total income grew 11.08 percent to Rs.4,413.72 crore in the period under review from Rs.3,973.12 crore in the like period a year ago, it said in a regulatory statement Friday.
“With the exception of the hotels segment, which is reeling under the impact of the global economic slowdown, all businesses posted strong bottomline growth,” the company said in another statement issued in Kolkata.
ITC’s net revenues from the cigarettes business rose to Rs.2,199.69 crore for the quarter from Rs.1,812.09 crore.
Net revenues from fast moving consumer goods (FMCG) business increased to Rs.3,063.02 crore from Rs.2,569.54 crore earlier.
“Profitability improved on the back of better product mix, smarter sourcing of inputs and a series of targeted cost management actions,” the company said.
Investments in brand building in the personal care and branded foods businesses continue to impact the segment results of FMCG-others, it added.
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Tags: cigarettes, cost management, crore, global economic slowdown, hospitality, hotels, investments, itc, kolkata, management actions, moving consumer goods, net profit, net profits, paper products giant, personal care, profitability, rs 1, rs 2, segment, tobacco
