ITC Q4 result: FMCG company ITC, which manufactures many items of daily use, has released the results for the March quarter. ITC reported profit of Rs 5020 crore in March 2024 quarter, down 1.3 per cent on year-on-year (YoY) basis. The FMCG company had registered a profit of Rs 5086 in the year-ago period.
Revenue also declined
ITC’s revenue from operations fell 1.4 per cent to Rs 17,571.72 crore in the fourth quarter of financial year 2023-24. Its income in the same quarter of the last financial year was Rs 17,506.08 crore. Its income for the quarter ending December 31, 2023 stood at Rs 17,224 crore. Ebitda for the quarter was down 0.8 per cent at Rs 6,162.6 crore, while Ebitda margin declined 70 basis points year-on-year to 37.2 per cent. Its earnings were hit by lower cigarette sales and decline in FMCG margins.
Revenue from the company’s cigarette business rose 7 per cent to Rs 8,689 crore in the March 2024 quarter, compared to Rs 8,092 crore in the year-ago quarter. Profit before tax (PBT) of the cigarette business increased 5 per cent year-on-year to Rs 5,157 crore in the last quarter.
declaration of dividend
ITC also recommended a final dividend of Rs 7.50 per share for the financial year ending March 31, 2024. The deal is subject to approval at the upcoming annual general meeting (AGM) of the company convened on July 26, 2024. The dividend will be paid between July 29, 2024 and July 31, 2024.
share status
ITC shares remained stable on Thursday after March quarter results. The share was seen at Rs 445 with a gain of just one per cent. This share had closed at Rs 439.75 in the last trading session.
