 "ITC Q1 profit after tax falls 25% to Rs 2,567 cr, revenue down 17%")
Diversified group ITC Ltd on Friday reported a 25 per cent decline in consolidated profit after tax at Rs 2,567.07 crore for the first quarter ended June 30 amid challenges of the coronavirus pandemic.
The company had posted a consolidated profit after tax of Rs 3,436.51 crore in the corresponding quarter of the previous financial year, ITC Ltd said in a regulatory filing.
Its consolidated revenue from operations stood at Rs 10,478.46 crore in April-June 2020, down 17 per cent as compared with Rs 12,657.90 crore in the year-ago period, it said.
The company said its cigarettes business clocked a revenue of Rs 4,330.05 crore in the first quarter, against Rs 6,141.92 crore a year ago.
Other FMCG segment revenue stood at Rs 3,378.84 crore as compared with Rs 3,068.07 crore a year ago, it added.
Hotels business revenue plummeted to Rs 24.92 crore, as compared to Rs 411.60 crore in the corresponding quarter of the previous year.
On the other hand, ITC said its agri business had a revenue of Rs 3,764.56 crore in the first quarter, up from Rs 3,622.40 crore a year ago.
Paperboards, paper and packaging vertical had a revenue of Rs 1,026.44 crore as compared to Rs 1,527.53 crore in the year-ago quarter, ITC said.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%