ITC Q4 Highlights: net profit increases by 21.4% to Rs 5,086 crore
Earnings for the fourth quarter of the fiscal year 2023 were announced on Thursday by Indian giant ITC.
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Earnings for the fourth quarter of the fiscal year 2023 were announced on Thursday by Indian giant ITC.
On February 3, the FMCG giant announced a 23% year-on-year increase in consolidated net profit at Rs 5,070.09 crore for the December quarter of FY23.
Paytm's consolidated net loss was reduced to Rs 392 crore in the third quarter of fiscal year 22. The firm recorded a net loss of Rs 778.4 crore the previous year.
Revenue from operations increased by 0.8% to ₹17122.15 crore from ₹16971.18 crore in the previous fiscal quarter.
Today's stocks to watch: Tata Metaliks reported a 73% drop in its December quarter net profit to Rs 9.48 crore due to increasing expenditures.
ITC will purchase out the firm in three or four tranches over the course of three to four years.
Today's announcement of the results for the July-September quarter will put a spotlight on the stocks of Reliance Industries, Bajaj Finserv, Ambuja Cements, IDBI Bank, Hindustan Unilever, JSW Steel, and Hindustan Zinc.
As they release their September quarter profits today, IndusInd Bank, Havells India, AU Small Finance Bank, HDFC Asset Management, Inox Leisure, Nestle India, and Ultratech Cement will be scrutinised.
Focus will be on the companies announcing their June quarter profits today: Adani Power, Adani Wilmar, Godrej Consumer Products, Gujarat Gas, Vodafone India, and BASF India.
ITC Ltd shares were trading 0.7 percent lower at 264 apiece on the BSE in early trade on Thursday, as the stock started trading ex-dividend. FMCG conglomerate has set Saturday, May 28, 2022 as the record Date for determining Members' entitlement to final dividend payment.
FMCG major ITC on Thursday reported a standalone net profit of₹4,056.20 crore for the December quarter, up 15% against net profit of ₹3,526 crore in the same quarter last year.
The company said in July that, it identifies ‘value accretive M&A’ as one of its strategic pillars to grow the FMCG business.
ITC shares surge 7% and hit news 52 weeks high more than the previous week.
The top gainers marked are Bharat Petroleum, Tata Consumer Products, Hero MotoCorp, Bajaj Auto, State Bank of India, Eicher Motors, Power Grid, UPL, and Kotak Mahindra Bank, on the other hand, NTPC, Coal India, Tech Mahindra, Divi's Labs, Infosys, HCL Technologies, Titan, Bajaj Finance, and TCS were among the losers.
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