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

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