ITC beats analysts estimates with 21% jump in quarterly profit, declares Rs 6/share dividend
ITC Q3 Results: The cigarettes-to-hotels conglomerates net profit grew by more than one-fifth compared with the corresponding period a year ago. ITCs board declared a dividend of Rs 6 per share. ITC shares ended 0.5 per cent higher at Rs 380.5 apiece on BSE ahead of the earnings announcement.
ITC — whose popular cigarette brands include Gold Flake and Wills Navy Cut — on Friday reported a net profit of Rs 5,031 crore for the quarter ended December 2022, up 21 per cent compared with the corresponding period a year ago. The cigarettes-to-hotels conglomerate's board announced a dividend payout.
The Kolkata-based company's revenue grew 2.9 per cent on a year-on-year basis to Rs 17,122.2 crore, according to a regulatory filing.
According to Zee Business research, ITC's quarterly net profit was estimated at Rs 4,699 crore and revenue at Rs 16,652 crore.
From cigarettes to hotels: A look at ITC's segment revenue break-up
Budget 2023 proposed to increase certain taxes on cigarettes.
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