Latest News | ITC Q2 Net Profit Rises 6 Pc to Rs 4,955.90 Crore

New Delhi, Oct 19 (PTI) Diversified entity ITC Ltd on Thursday reported a 6.11 per cent rise in consolidated net profit at Rs 4,955.90 crore for the September quarter.

The company had posted a consolidated net profit of Rs 4,670.32 crore in the year-ago period, ITC said in a regulatory filing.

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Its gross revenue from the sale of products stood at Rs 19,137.51 crore, up 3.83 per cent during the quarter. It was Rs 18,430.52 crore in the corresponding quarter a year ago.

ITC's revenue from operations was at Rs 19,270.02 crore in the quarter, up 3.55 per cent, as against Rs 18,608 crore.

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"Amidst a challenging operating environment and high base effect in some of its operating segments, the company sustained its strong growth momentum during the quarter, driven by focus on customer centricity, accelerated digital adoption, execution excellence and agility," ITC said in its earning statement.

Total expenses in the quarter rose 3.54 per cent to Rs 13,278.69 crore.

During the quarter, public investment remained strong, and consumption demand was relatively subdued, especially in the value segment and rural markets on the back of sub-par monsoon and persistent food inflation, which saw a sharp spike, ITC said.

"Green shoots of recovery are visible, with prospects of improved agri output, the onset of the festive season, increase in rural wages and government spending on infrastructure auguring well for a recovery in rural markets," it said.

Shares of ITC on Thursday settled at Rs 450.30 on the BSE, down 0.28 per cent from the previous close.

(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)