ITC Q4 results: Net profit rises 12% to Rs 4,196 cr; final dividend declared

FMCG-cigarette-to-hotel major ITC on Wednesday reported a year-on-year consolidated net profit of Rs 4,196 crore, up 11.7 per cent in the quarter ended 31 March, 2022. The company had posted a net profit of Rs 3,755.47 crore in the year-ago period. 

Sequentially, the net profit rose 3.4 per cent from Rs 3,755.47 crore in December quarter (Q3FY22).

The revenue from operations for the period came at Rs 17,754.02 crore, up 15 per cent in the March quarter. The company had posted a revenue of Rs 15404.37 crore in the corresponding period.

Its consolidated total income stood at Rs 18,252.64 crore as against Rs 10944.64 crore in the year-ago quarter, it added.

Total expenses were higher at Rs 12632.29 crore as compared with Rs 9,765.56 crore in the corresponding period last fiscal, the company said.

During the fourth quarter, the cigarettes segment clocked a revenue of Rs 7,177 crore as compared to Rs 6,508 crore in the same period last fiscal.

ITC said its other FMCG division had a revenue of Rs 4148.62 crore as against Rs 3694.80 crore in the year-ago quarter.

The hotels segment registered a revenue of Rs 407.42 crore, up from Rs 302.35 crore in the said quarter last fiscal. ''Hotels witnessed smart recovery in spite of the third wave impacting recovery momentum in January-February 2022,'' it said.

Agri business registered revenue of Rs 4,375.42 crore as against Rs 3,383 crore in Q4 FY21, the company said.

The sharp growth in the segment revenue was driven by wheat, rice, leaf tobacco exports while leveraging strong customer relationships, investments in sustainable value chains, robust sourcing network and agile execution, the company said.

Paperboards, paper and packaging revenue stood at Rs 2,182.77 crore in the fourth quarter as against Rs 1,655.91 crore in the same period last year, the company said adding re-opening of educational institutions aided recovery but it was still below pre-pandemic levels.

For the fiscal ended March 31, 2022, ITC said its consolidated net profit was at Rs 15,485.65 crore as compared to Rs 13,389.8 crore in 2020-21.

The company also stated that is board recommended a final dividend of Rs 6.25 for the financial year ended 31 March, 2022, subject to declaration of the same by the members at the 111th Annual General Meeting (AGM) convened for 20th July, 2022. The dividend, if declared, will be paid between 22nd July, 2022 and 26th July, 2022 to those members entitled thereto. It has fixed 28 May, 2022 as the record date for payment.

ITC board also recommended for the approval of the ,embers, appointment of Supratim Dutta as a Director, and also as a Wholetime Director of the Company for a period of three years with effect from 22nd July, 2022. 

Shares of ITC on Wednesday closed 0.72 per cent higher at Rs 266.50 apiece on BSE.