ITC Q1

The cigarettes-to-hotels conglomerate, ITC, reported a 30.24% YoY increase in consolidated profit in the June quarter. Business Standard spoke to a D-Street expert to understand how ITC fared in Q1 and how government divestment of its 7.93% stake in ITC is likely to impact the stock in the quarters ahead.

Net sales during the quarter under review stood at Rs 12,532.31 crore as against Rs 11,745.68 crore in the corresponding period a year ago

Profitability of most other businesses is expected to improve further and stock valuations are still cheap

The net profit during the similar quarter of the last fiscal year stood at Rs 25.61 billion while the revenue was registered at Rs. 142.77 billion

However, quarterly revenue from operations fell 21.2 per cent to Rs 108.75 billion

Company's gross revenue from sales of products and services was at Rs 13,722 cr