ITC June quarter net profit up 21.8 pc to Rs 1,070 crore

NEW DELHI: Diversified business group ITC on Thursday posted a 21.8 per cent jump in its net profit to Rs 1,070.3 crore in the quarter ended June 30, 2010, on account of robust growth in its FMCG division and agri-businesses.

The company had a net profit of Rs 878.70 crore in the quarter ended June 30, 2009, ITC said in a statement.

During the quarter, the company's net income jumped 15 per cent to Rs 4,847.34 crore from Rs 4,197.82 crore in the same period of the previous fiscal.

The company said its non-cigarette FMCGs and agri-businesses have seen strong performances during the quarter, besides witnessing a recovery in the hotel segment.

While the revenue of its cigarette business grew by 12 per cent to Rs 2,483.62 crore, the non-cigarette FMCG division, which include the packaged food segment and personal care products, was up 32.2 per cent to Rs 1,001.38 crore.

Besides this, the revenue of the group's hotel division grew by 21 per cent to Rs 209.92 crore during the quarter, while its agri-business grew by 44 per cent to Rs 1,349.8 crore.

In the non-cigarette FMCG segment, the company said its branded packaged foods business, which sells 'Bingo!' range of potato chips and 'Sunfeast' biscuits, continued to expand with sales growing by 34 cent per cent during the quarter.

"The personal care business continued to make significant progress in gaining consumer franchise with revenues growing by 86 percent during the quarter," ITC said.

In the personal care segment, the company sells soaps and shampoos under brands like 'Essenza Di Wills', 'Fiama Di Wills, 'Vivel and 'Superia'.