ITC sees broad-based growth, net profit rises 34% to Rs 4,389 crore

The performance of ITC in the June quarter reflected normalisation of business activity across segments

Cigarettes-to-hotels major ITC on Monday reported a 33.98 per cent year-on-year (YoY) jump in its consolidated net profit, which came in at Rs 4,389.76 crore, amid growth across segments. In the year-ago period, profit was Rs 3,276.48 crore.

Net sales came in at Rs 18,353 crore, up 39.2 per cent YoY and well ahead of expectations. A poll of analysts by Bloomberg had estimated its revenue at Rs 11,760 crore and net income at Rs 3,974 crore.

The company attributed the performance to a “robust” performance across segments. Sequentially, too, net profit and revenue were up. Net sales in the previous quarter