ITC Q4 net up 18.16% at Rs 2,278 cr

Diversified group ITC today posted 18.16 per cent increase in standalone net profit at Rs 2,278.01 crore for the fourth quarter ended March 31, helped by lower expenses.
The Kolkata-headquartered firm had posted a profit of Rs 1,927.9 crore in the January-March quarter of 2012-13 fiscal.
Net sales rose 11.79 per cent to Rs 9,145.14 crore in Q4, 2013-14, from Rs 8,180.30 crore in the year-ago period, ITC said in a statement.
During the quarter, overall expenses stood at Rs 5,272.95 crore, down 8.4 per cent, compared to Rs 5,757.77 crore in the year-ago period.
"The company continued to deliver strong financial performance with healthy growth in revenues and high quality earnings. This performance is particularly commendable when viewed against the backdrop of the extremely challenging business context," the company said in a statement.

Revenue from the FMCG business, including cigarettes, climbed by 12.57 per cent to Rs 4,078.78 crore, from Rs 3,623.23 crore in Q4, 2012-13.

"Categories involving higher discretionary spends or with relatively high penetration levels were impacted the most," ITC said.
Revenue from ITC's non cigarettes FMCG grew by 13.66 per cent to Rs 2,314.51 crore, compared with Rs 2,036.20 crore in the same period last year.
Revenue from hotels business grew marginally to Rs 320.51 crore, from Rs 315.45 crore in Q4, 2012-13.
"The hospitality sector continued to be adversely impacted by the weak economic environment prevailing in major international source markets and in India on the one hand, and significant additions to room supplies in key Indian cities on the other," the company said.

During the entire 2013-14 fiscal, the company reported net profit of Rs 8,891.38 crore, up 16.86 per cent as against Rs 7,608.07 crore in the same period a year ago.
Net sales for the year were Rs 34,984.70 crore, up 11.68 per cent, from Rs 31,323.45 crore in the previous fiscal.
The ITC scrip closed at Rs 342.15, down 0.77 per cent, on the BSE.