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Hit by Covid-19, ITC's profit before tax dips 34% to Rs 3,435 crore

Revenues from operations fell 17.21 per cent to Rs 10,478.46 crore. Profit after tax was down by 25.5 per cent to Rs 2,562.73 crore

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The outbreak also weighed heavily on hotel operations with revenues down at Rs 24.92 crore during the quarter compared to Rs 411.60 crore in the same period last year.

Ishita Ayan Dutt Kolkata

3 min read Last Updated : Jul 24 2020 | 11:20 PM IST

A sharp decline in cigarettes, hotels, paper and paperboard revenues because of the nationwide lockdown to contain the Covid-19 pandemic dragged diversified conglomerate, ITC’s profit before tax (PBT) 33.81 per cent to Rs 3,435.88 crore in the June quarter.

Revenues from operations saw a dip of 17.21 per cent to Rs 10,478.45 crore. Profit after tax was down by 25.5 per cent to Rs 2,562.73 crore. Unprecedented disruption in operations because of the lockdowns weighed on performance, the company said.

Revenues from cigarettes were down by about 29.5 per cent to Rs 4,330.05 crore, as manufacturing operations resumed mid-May. However, operations have

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