Kolkata based Tobacco major ITC has reported its third quarter results for the fiscal year 2015. Net profit for the third quarter ending 31st December 2014 grew 10.5% year-on-year to Rs 2635 crores compared to Rs 2385 crores same period last fiscal year.
Other income of ITC has gone up by Rs 191 crores from Rs 391 crores of quarter ending 31st December 2013 to Rs 582 crores for the third quarter ending 31st December 2014. This increase has supported the bottom line of this quarter.
Profit from operations before other income and finance costs is at Rs 3226.57 crores as against Rs 3058.38 crore of same quarter of last fiscal year 2013.
ITC’s total income from operation for the third quarter ending 31st December 2014 is at Rs 8943 crores as against Rs 8727 crores for the same quarter last year.
During this third quarter, cigarettes business of ITC has contributed Rs 4142 crores as compare to Rs 4116 crores of third quarter FY 2013. This slow growth in cigarettes business impacted overall revenue growth of ITC.
Paperboards, paper and packaging business has show slow down. Revenue from paperboards and packaging segment is at Rs 1199 crores compare to Rs 1257 crores of quarter ending 31st December 2013. This impacted by the slowdown in ITC’s cigarette and consumer goods industries.
Hotel business of ITC has shown a growth of 4.6% in revenue. Third quarter revenue from hotel segment is at Rs 330 crores as against Rs 315 crores of Q3 FY2013. Profit before tax contribution from hotel segment is Rs 28.71 crores compared to Rs 62.2 crores same period last fiscal year 2013. Slow growth in hotel business of ITC is due to weak pricing scenario.
Sale of other FMCG products except cigarette is at Rs 2314 crores compare to Rs 2078 crores same period last fiscal year 2013.
During the quarter, under Employee Stock Option Schemes ITC has issued and allotted 2,11,80,320 Ordinary Shares of Rs 1 each. Consequently, the issued and paid-up Share Capital of the Company as on 31st December, 2014 stands increased to Rs 799,54,35,531.
image source: ITC