Financial Daily from THE HINDU group of publications
Saturday, Oct 29, 2005
Financial Daily from THE HINDU group of publications Saturday, Oct 29, 2005 |
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Corporate Results
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Diversified ITC Q2 net up 17.3% at Rs 572 crore Our Bureau
Kolkata , Oct. 28 ITC Ltd, for the quarter ended September 30, 2005, has registered a growth of 17.3 per cent in net profit at Rs 572.33 crore, while pre-tax profit for the same period has increased by 17.4 per cent to Rs 815.24 crore. EPS for the said quarter, post share split and issue of bonus shares, according to a statement issued by the company here, stood at Rs 1.52. Net turnover at Rs 2,183.15 crore (Rs 1,786.09 crore) has registered a growth of 22.2 per cent, driven largely by cigarette sales,ramp-up of the foods business,, higher agri exports and improved performance of the hotels, paperboards, paper and packaging segments. Total expenditure for the quarter is up at Rs 1,363.31 crore (Rs 1,072.55 crore. Provision for taxation for the period under review (including prior year adjustments) is slightly higher at Rs 242.91 crore (Rs 206.50 crore). The non-cigarette topline, according to the statement, which now accounts for 44 per cent of ITC's net turnover, grew by 39 per cent during the quarter. Profit after tax for the half year ended period is placed at Rs 1,130.63 crore (Rs 952.95 crore). Net sales for the half year is at Rs 4,450.03 crore (Rs 3,603.24 crore). The results were taken on record by the board at its meeting here on Friday.While ITC's branded packaged foods business has continued to expand rapidly, the other new businesses such as Lifestyle retailing, Greeting, Gifting & Stationery and Agarbattis & Safety Matches have recorded impressive gains. In the agarbatti business, the company has strengthened its partnership with small and medium enterprises, to help them raise their quality and process standards.
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