ITC’s quarterly net profit rises 22.4 percent

January 20th, 2012 - 3:51 pm ICT by IANS  

Mumbai, Jan 20 (IANS) FMCG major ITC Friday reported a 22.4 percent rise in net profit at Rs.1,701 crore for the quarter ended Dec 31, beating analyst forecasts.

The company also witnessed a healthy topline growth. Total income of the cigarettes-to-hotels conglomerate went up 15.3 percent to Rs.6,533 crore in the quarter under review, compared to Rs.5,665 crore in the previous corresponding quarter.

The FMCG business, including cigarettes, saw an 18 percent rise in net revenues at Rs.4,603 crore.

The company’s hotels business posted a marginal fall of 1 percent, while the agri business grew 10 percent helped by depreciation of the rupee.

The ITC scrip, however, fell on the Bombay Stock Exchange on concerns of moderating volume growth. The stock was ruling 3.59 percent lower at Rs.201.35.

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