Net profit of the company jumped to Rs 3,209.07 crore in Q3FY19.
By ETMarkets.com |
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NEW DELHI: FMCG major ITC on Wednesday posted a 3.85 per cent year-on-year (YoY) rise in net profit on a double-digit rise in top line for the quarter ended December 2018.
Net profit of the company jumped to Rs 3,209.07 crore in Q3FY19 over Rs 3,090.20 crore in the corresponding quarter last year.
Net sales of the company increased 14.86 per cent YoY to Rs 11,431.26 crore during the quarter under review against Rs 9,952.19 crore in the same period last year.
An analyst poll by ETNow had projected net profit and net sales at Rs 3,101 crore and 10,794 crore, respectively, for the December quarter.
Here are the top five takeaways from ITC's third-quarter earnings:
EBITDA: Earnings before interest tax depreciation and amortisation (EBITDA) increased 11.23 per cent YoY to Rs 4,326 crore against Rs 3,889 crore in the same period last year. ETNow poll had projected an EBITDA of Rs 4,322 crore. Margins missed street estimates in Q3FY19. The figure came at 37.80 per cent against 39.80 per cent on YoY basis. ETNow poll had project margins of 40 per cent during the quarter under review.
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Segment performance: Revenue from cigarette segment increased 9.59 per cent YoY to Rs 5,073.38 crore in Q3FY19. Hotel and agri business posted 11.72 per cent and 25.72 per cent YoY rise in revenue at Rs 451.86 crore and Rs 1924.61 crore, respectively.
Other income: Other income of ITC increased 30.20 per cent YoY to Rs 836.39 crore for the quarter ended December 2018 against Rs 642.36 crore in the same period last year.
EPS: Earnings per share (Basic) stood at Rs 2.62 in December quarter as against Rs 2.54 in the corresponding quarter last year. Diluted EPS came at Rs 2.60 against Rs 2.52 in the corresponding quarter last year.
Share price update: Shares of ITC tanked over 4.02 per cent to an intraday low of Rs 278.10 after the announcement of financial results.
