ITC is trading lower by 4% at Rs 362 after reporting 18% year-on-year (yoy) jump in net profit at Rs 1,891 crore on back of strong performance across business segments. Analyst on an average had expected profit of Rs 1,869 crore from the fast moving consumer goods (FMCG) major.
Its EBITDA or operating profit margin improved by 225 bps at 37.7% from 35.4% mainly due to higher cigarette margins.
The company’s net sales during the period under review increased by 10% to Rs 7,339 crore in the quarter under review as against Rs 6,652 crore in the corresponding period last year, ITC said in filing to BSE.
The stock hit high of Rs 379 and low of Rs 350 so far on the Bombay Stock Exchange (BSE). A combined 12.39 million shares have changed hands on the counter till 1400 hours.
Meanwhile, the stock had outperformed the market, rallied 20% in past one month as compared to 8% rise in benchmark Sensex till yesterday.
Its EBITDA or operating profit margin improved by 225 bps at 37.7% from 35.4% mainly due to higher cigarette margins.
The company’s net sales during the period under review increased by 10% to Rs 7,339 crore in the quarter under review as against Rs 6,652 crore in the corresponding period last year, ITC said in filing to BSE.
The stock hit high of Rs 379 and low of Rs 350 so far on the Bombay Stock Exchange (BSE). A combined 12.39 million shares have changed hands on the counter till 1400 hours.
Meanwhile, the stock had outperformed the market, rallied 20% in past one month as compared to 8% rise in benchmark Sensex till yesterday.
