ITC Q1 FY25 results: Profit up marginally; revenue climbs 7% YoY

FMCG giant ITC Ltd on Thursday reported a marginal uptick of 0.30 per cent, on a year-on-year (YoY) basis, in its standalone profit during the ongoing financial year 2024-25 (Q1 FY25). In the June 2024 quarter, the tobacco-to-hotels conglomerate's profit stood at Rs 4,917.45 crore compared to Rs 4,902.74 crore in the year-ago period.

Revenue from operations were up 7.20 per cent in Q1 FY25 at Rs 18,219.74 crore as against Rs 16,995.49 crore in the corresponding period last year.

The increase in revenue was driven by hotels, value added agri products and leaf tobacco, ITC said. "FMCG and Cigarettes delivered resilient performance amidst subdued demand conditions. Green shoots of demand recovery in the paper segment; performance remained impacted largely due to cheap Chinese supplies in global markets including India & surge in domestic wood prices," it added.

"Geopolitical volatility and climate emergencies have led to concerns over food security and food inflation globally. To ensure India remains food secure, Government has had to impose trade restrictions on agri commodities; consequently limiting business opportunities in the bulk commodities space," ITC further stated.

The company underscored that 'Sunrise' spices posted robust growth during the quarter and continued to strengthen its market standing in the core market of West Bengal.

"The recently launched unique and differentiated products catering to regional tastes and preferences such as Sunrise 'Haah Salkumura' – a first-to market product for duck curry and the 'Swaad Bihar ka' range of spices including 'Sunrise Chicken Masala', 'Sunrise Meat Masala', 'Sunrise Kitchen King Masala' continue to scale up in launch markets of Assam and Bihar respectively," it also said.

The quarterly earnings came post-market hours today. Earlier in the day, ITC shares settled 0.26 per cent lower at Rs 493.75. At this price, the stock has risen 5.67 per cent in 2024 so far.