ITC Ltd's Quarterly Performance: Profit Dip Despite Revenue Rise

ITC Ltd reported a 7.27% decline in consolidated net profit for the December quarter, reaching Rs 5,013.16 crore, compared to the previous year's Rs 5,406.52 crore. Despite increased revenue and income, expenses also saw a notable rise. Shares ended 1.53% lower on the BSE.

ITC Ltd, a diversified entity, has announced a decrease of 7.27 percent in its consolidated net profit for the December quarter, totalling Rs 5,013.16 crore, a drop from Rs 5,406.52 crore reported in the same period last year, according to a recent regulatory filing.

Despite the dip in profits, the company's revenue from operations experienced a 9.05 percent uptick, reaching Rs 20,349.96 crore compared to Rs 18,660.37 crore in the prior fiscal year, indicating a robust growth trajectory.

The figures also revealed that ITC's total expenses rose by 12.18 percent during the quarter, amounting to Rs 14,413.66 crore. Additionally, total income, which encompasses other earnings, increased by 8.47 percent to Rs 20,945.82 crore, up from Rs 19,308.85 crore a year earlier. However, by the close of trading, ITC Ltd's shares had fallen by 1.53 percent on the BSE, settling at Rs 441.40 each.