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FMCG major ITC Ltd has reported a near 6 per cent jump in standalone net profit to ₹2,495 crore for the fourth quarter ending March 31, 2016, against the ₹2,361-crore it reported in the year-ago-period.
During the quarter, income increased by over 9 per cent to ₹10,169 crore. Income stood at ₹9,293 crore in the fourth quarter of the previous year.
For the full year, the company’s standalone net profit grew by 2.5 per cent to ₹9,845 crore from ₹9,607 crore year-on-year.
Its standalone total income remained more or less flat at ₹36,837 crore (₹36,507 crore). In a statement, ITC said its gross revenue, for the fiscal, has crossed ₹50,000 crore.
The company has recommended a dividend of ₹8.50 (including a special dividend of ₹2) per share of ₹1, face-value.
The board recommended a bonus share of one for every two held.
FMCG business Incidentally, all verticals including cigarettes, FMCG others (branded packaged foods, apparels, education, stationery, personal care, safety matches and incense sticks) – hotels, agri-business and so on reported increased revenues and profit before tax.
According to the company, the cigarettes segment continues to be impacted by severe pressure on the industry. However, in the fourth quarter, cigarettes — which account for over 40 per cent of its total revenues – jumped by over 10 per cent in turnover to ₹4,639 crore up from from ₹4,211 crore.
Profit before tax increased by 12 per cent to ₹3,019 crore against ₹2,706 crore (YoY).
Similarly, in the FMCG-others business, ITC said it withstood intensified competition, sluggish demand and price deflation to witness a 5 per cent growth in revenue to ₹2,704 crore for Q4, FY-16.
In the corresponding period last year, revenues stood at ₹2,567 crore.
Other businesses Gestation cost of its Gurgaon property (called ITC Grand Bharat) and impact of business disruptions because of Chennai rains notwithstanding the hotels vertical saw its Q4 revenues grow by nearly 5 per cent to ₹363 crore against ₹346 crore (Y-o-Y). PBT increased by over 2 per cent to ₹43 crore (₹42 crore).
“The healthy growth in occupancy and food & beverage revenue was reflected,” the company said in a release.
A scale up in operations saw ITC’s agri-business revenues increase by 27 per cent to ₹1,807 crore in the quarter under review against ₹1,428 crore in the year-ago period. Profits increased by 6 per cent to ₹174 crore (YoY).
“Profitability improvement was driven by superior product mix and higher realisations,” a company statement said.
Paperboards revenue in Q4 saw a 3 per cent rise to ₹1,238 crore, while it reported an over 6 per cent jump in profit to ₹203 crore.
Shares of ITC closed at ₹329.95, up by 1.55 per cent, on the BSE on Friday.
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