Latest News | ITC First-quarter Net Profit Remains Flat at Rs 4,917.45 Cr

Kolkata, Aug 1 (PTI) Diversified conglomerate ITC on Thursday reported a standalone net profit of Rs 4,917.45 crore in the first quarter of the current 2024-25 fiscal, marginally up from Rs 4,902.74 crore in the year-ago period.

The total income of the company during the April-June period of FY'25 stood higher at Rs 18,921.01 crore as against Rs 17,704.23 crore in the corresponding quarter of the last financial year.

Also Read | Shillong Teer Results Today, August 1, 2024: Know Winning Numbers, Result Chart for Shillong Morning Teer, Shillong Night Teer, Khanapara Teer, Juwai Teer and Jowai Ladrymbai.

Profit before tax also increased marginally to Rs 6,551.70 crore during the first quarter of FY'25 as compared to Rs 6,545.59 crore in the similar period of the previous year, the company said in a regulatory filing.

ITC said in a statement that the FMCG business (non-cigarettes) displayed resilient growth amidst muted demand conditions and extreme heat waves in parts of the country.

Also Read | What Is Uttar Pradesh Nazul Properties Bill, Why Did BJP MLA Harshvardhan Bajpai Oppose It in Assembly?.

The FMCG (cigarettes) net segment revenue increased seven per cent year-on-year. The business continued its focus on market interventions and offering differentiated and premium products to customers.

The hotel segment revenue in the first quarter was higher by 10.9 per cent year-on-year.

The hotels division has operationalised seven managed properties during the period under review, the company said.

The agri-business segment revenues grew 22.2 per cent driven by value-added agri-products, leaf tobacco and wheat.

Paperboard, paper and packaging segment performance was impacted by imports of low-priced Chinese supplies in global markets, including India, muted domestic demand and a surge in wood prices, the company added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)