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ITC non-cigarette businesses may continue to rise by 14-15%, say analysts

ITC now needs to take up price hikes to improve its margin profile, which otherwise could take away the sheen off its stock in brokerage buy lists on account of attractive valuation

Shreepad S Aute 

Though ITC’s December quarter (Q3) numbers were broadly in line with the Street’s estimates, investors were disappointed with the margin performance, caused by the lack of price hikes. The stock tumbled 4.2 per cent on Wednesday to Rs 277.7 apiece, after announcement of the results.

ITC’s top line grew 15.1 per cent year-on-year (YoY) to Rs 11,136 crore, and net profit (excluding exceptional items of Rs 413 crore in December 2017 quarter) rose 20 per cent to Rs 3,209 crore. Analysts were expecting revenues and net profit of the cigarette maker to be Rs 10,881.2 crore and ...

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First Published: Wed, January 23 2019. 23:43 IST
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