ITC Q1 Profit Flat at Rs 4,917 cr: FMCG, Hotels Drive Growth

Kolkata, Aug 1 (PTI) Diversified conglomerate ITC on Thursday reported a standalone net profit of Rs 4,917.45 crore in the first quarter of the current 2024-25 fiscal, marginally up from Rs 4,902.74 crore in the year-ago period.

The total income of the company during the April-June period of FY'25 stood higher at Rs 18,921.01 crore as against Rs 17,704.23 crore in the corresponding quarter of the last financial year.

Profit before tax also increased marginally to Rs 6,551.70 crore during the first quarter of FY'25 as compared to Rs 6,545.59 crore in the similar period of the previous year, the company said in a regulatory filing.

ITC said in a statement that the FMCG business (non-cigarettes) displayed resilient growth amidst muted demand conditions and extreme heat waves in parts of the country.

The FMCG (cigarettes) net segment revenue increased seven per cent year-on-year. The business continued its focus on market interventions and offering differentiated and premium products to customers.

The hotel segment revenue in the first quarter was higher by 10.9 per cent year-on-year.

The hotels division has operationalised seven managed properties during the period under review, the company said.

The agri-business segment revenues grew 22.2 per cent driven by value-added agri-products, leaf tobacco and wheat.

Paperboard, paper and packaging segment performance was impacted by imports of low-priced Chinese supplies in global markets, including India, muted domestic demand and a surge in wood prices, the company added.