ITC revenue up 15% at Rs 11,340 crore

FMCG major ITC Limited today reported gross revenue of Rs 11,340.15 crore during the third quarter ending December 2018, representing a growth of 15.1 per cent in the year-on period.

The growth was driven mainly by FMCG-others, agri business and paperboards, paper and packaging.

Profit after tax before considering exceptional items during the period grew by 13.8 per cent, marking a 17-quarter high.

Total comprehensive income stood at Rs 3,637.01 crore compared to Rs 3,177.06 crore in the same period of last year.

ITC said in a statement that its FMCG-others segment posted a steady performance during the quarter with revenue growing by 11.5 per cent. The branded packaged foods businesses sustained its high growth trajectory with most major categories recording improvement in market standing.

The hotel business made steady progress during the quarter with construction of ITC Hotels at Kolkata and Ahmedabad besides WelcomHotels in Amritsar, Guntur and Bhubaneswar.

In agri business, market opportunities in wheat and oilseeds along with enhanced focus on value-added portfolio resulted in robust growth in revenue during the quarter.

In paperboards, paper and packaging, the segment revenue growth of 20.5 per cent was driven by strong demand and capacity augmentation in value added paperboard and decor segments. A healthy growth of 23.8 per cent was driven by product mix enrichment, higher realisation, strategic investments in imported pulp substitution and process innovation, leading to improved pulp yield and benefits of a cost-competitive fibre chain.

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