ITC Q4 Results: Net profit declines 1.3% to Rs 5,020

ITC Ltd has reported a standalone net profit of ₹5,020.2 crore for the March quarter, down 1.31 percent from the same quarter last year. This decline was due to flat cigarette volumes and lower FMCG margins.

The profit fell short of expectations. A Moneycontrol poll of six brokerages had estimated ITC’s consolidated net profit at ₹5,114 crore, up 0.5 percent.

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Revenue for the quarter came in at ₹17,752.87 crore, rising 1.40 percent, the tobacco and FMCG major said in a regulatory filing on May 23. Revenue was expected to grow 4.9 percent to ₹16,945 crore.

The company has recommended a final dividend of ₹7.50 per ordinary share for the financial year ending March 31, 2024. Combined with the interim dividend of ₹6.25 per share declared on January 29, 2024, the total dividend for the year will be ₹13.75 per ordinary share.

This is a developing story…