ITC books PAT of Rs 4,466 crore for Q2

Mumbai, Oct 20 (IANS) Driven by strong performance across its products and services segment, the multi-business conglomerate ITC Ltd on Thursday said it had closed the second quarter of FY23 with an after tax profit of Rs 4,466 crore.

During the period under review, the company had earned an operational revenue of Rs 16,971.18 crore (Rs 13,356.15 crore in Q2FY22) and a net profit of Rs 4,466 crore (Rs 3,697.18 crore).

Economic activity continued to gather momentum during the quarter along with improvement in business and consumer sentiments, the company said.

However, input prices remained elevated even as some commodities witnessed softening in the course of the quarter.

Inflationary headwinds continued to weigh on consumption expenditure which was partly offset by early onset of the festive season this year in some parts of the country.

According to ITC, its focus on digital adoption and other strategies resulted in growth across the operating segments.

The company’s fast moving consumer goods (FMCG) division selling products like cigarettes and others logged an income of Rs 11,838.56 crore (Rs 9,678.13 crore).

The other divisions – hotels, agri business, paperboards, paper and packaging – fetched Rs 18,659.10 crore (Rs 14,578.67 crore).

The inter-segmental revenue stood at Rs 1,687.92 crore (Rs 1,222.52 crore) resulting in the operational revenue of Rs 16,971.18 crore (Rs 13,356.15 crore).

–IANS

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