ITC's first quarter net profit increased by 30.24 percent, cigarette income increased to Rs 5802.67 crore

ITC’s first quarter net profit increased by 30.24 percent, cigarette income increased to Rs 5802.67 crore

ITC’s income from cigarettes grew by 34.01 per cent to Rs 5,802.67 crore in the first quarter of the current financial year. Whereas in the same quarter of the last financial year it was Rs 4,330.05 crore.

ITC Ltd.

ITC Ltd. has reported a consolidated net profit of Rs 3,343.44 crore in the first quarter of the current financial year ended June 30, 2021, which is 30.24 per cent higher than the corresponding quarter of the previous financial year. The company had earned a net profit of Rs 2,567.07 crore during the April-June quarter of the previous financial year. In the information sent to the stock exchanges, ITC Ltd. The company’s operating income grew by 35.91 per cent to Rs 14,240.76 crore during the April-June quarter, as against Rs 10,478.46 crore in the corresponding period of the previous fiscal, it said.

The total expenditure of ITC in the quarter under review was Rs 10,220.49 crore, which is 28.27 per cent higher than the corresponding period of FY 2020-21. It was Rs 7,967.71 crore in the April-June quarter of the last financial year. According to ITC, the lockdown and restrictions imposed due to COVID-19 in many states made the economic situation challenging and also affected the pace of strong growth in recent quarters.

Income from FMCG up 23.86 per cent

ITC said its income from FMCG business grew by 23.68 per cent to Rs 9,534.07 crore during the April-June quarter of the current financial year. Which was Rs 7,708.89 crore during the same quarter of the previous financial year. ITC’s income from cigarettes grew by 34.01 per cent to Rs 5,802.67 crore in the first quarter of the current financial year. Whereas in the same quarter of the last financial year it was Rs 4,330.05 crore.

Operation affected in the second wave of COVID

According to ITC, in the January-March quarter of the financial year 2020-21, its income from cigarettes had reached the level before COVID. However, restrictions imposed during the second wave of COVID also hampered its operations in the April-June, 2021 quarter.

Its income from other segments also grew by 22.2 per cent and stood at Rs 680.26 crore in the first quarter of the current financial year. It was Rs 556.68 crore in the same quarter of the previous financial year.

ITC chairman Sanjeev Puri’s salary increased by 47.23 percent in 2021

ITC Chairman and Managing Director Sanjeev Puri’s annual salary increased by 47.23 percent to Rs 10.10 crore in the financial year 2020-21. This increase in the total salary of Puri is on the basis of revision in the salary structure. Which was approved by the shareholders of the company in September, 2019.

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