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Wednesday, December 1, 2021

ITC LTD Q2 Result: ITC’s profit up 10%, reaches Rs 3714 crore

Relief to ITC due to increase in profit in the second quarter

From making cigarettes, FMCG products to hotel business, ITC LTD has announced the results of the second quarter. The company’s consolidated net profit rose 10% to Rs 3714 crore in the September quarter. ITC’s net profit in the same quarter last year was Rs 3366 crore. On a quarterly basis, the company’s net profit increased by 13 per cent to Rs 3366 crore as compared to the June 2021 quarter. The company’s net profit in the June quarter was Rs 3276 crore.

Income up 13 per cent to Rs 14,844 crore

In the September 2021 quarter, the company’s income from operations grew by 13 per cent to Rs 14,844 crore. The company’s income in the same quarter last year was Rs 13,147 crore. ITC’s EBITDA in the September quarter was Rs 5017 crore. The company’s income from cigarette business stood at Rs 6219 crore as against Rs 5617 crore in the same quarter last year. It increased by 10 percent on an annual basis. The company has made a net profit of Rs 3762 crore from the business of cigarettes. The company’s cigarette business was affected in the first quarter of the current financial year due to the second wave of coronavirus infection.

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Company’s expenses increased by 11.93 percent

The company’s total expenses during the quarter increased by 11.93 per cent to Rs 10,258.26 crore as against Rs 9,164.68 crore in the corresponding quarter of the previous fiscal. On Wednesday, the company’s stock closed at Rs 238.40 with a gain of 0.68 per cent on the BSE.

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