In line with road estimates, the diversified ITC on Wednesday reported an annual growth of 11.81% in its individual net profit to Rs 4,190.96 crore in the fourth quarter of last fiscal, contributing to a 15.71% year-on-year increase in its total sales revenue.
Cigarette-to-FMCG-to-hotel chief FY21 posted a net profit of Rs 3,748.42 crore in the fourth quarter. According to the company’s stock exchange filing, total revenue from sales for the period under review stood at Rs 16,226.63 crore as against Rs 14,023.43 crore for the same period of the previous financial year. During the period under review, the aggregate tax expenditure increased by 13.17% year on year to Rs. 1,251.07 crore.
ITC, in a statement, said it had posted strong growth across all operating segments despite the effects of the third wave. In the fourth quarter of FY22, Ebitda grew 16.8% yoy to about Rs 5,220 crore.
Avanish Roy, Executive Director, Institutional Equity, Edelweiss Securities, says all core businesses have done well on 4FY22.
According to the stock exchange filing, revenue from the cigarette business increased by 9.96% to Rs 6,443.37 crore in the fourth quarter of the last financial year, while operating profit increased by 12.21% to Rs 4,114.27 crore, according to the stock exchange filing.
In the quarter under review, the non-cigarette FMCG business grew by 12.32% year-on-year to Rs 4,141.97 crore, while the segment grew its operating profit by Rs 235.99 crore during the period to 24.75% year-on-year. There was a 58 basis point yoy Ebit margin expansion. ITC said its non-cigarette FMCG segment has become “an elastic performance” at a relatively high base. “After a comparative decline in the first half, the second half of the year (FY22) saw double-digit growth in revenue. Staples and Convenience Foods have remained resilient, although the pace of revenue growth has been relatively modest, ”the company said. Mobility and optimal comparison.
Hotel business revenue increased by 35.39% to Rs 389.64 crore.
The ITC board has recommended an interim dividend of Rs 5.25 per share and a final dividend of Rs 6.25 per share. The total dividend for FY22 is Rs 11.50 per share.