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.