ITC Q1 results: Consolidated net profit drops marginally to ₹5,177 crore; check key details

The cigarettes-to-hotel giant reported a net profit of ₹5,176.99 crore for the quarter ended June 2024, a negligible drop of 0.24% year-on-year compared to ₹5,189.61 crore in the same quarter a year ago.

The company’s revenue from operations rose 7.46% YoY to ₹20,029.6 crore in Q1FY25, compared to ₹18,639.48 crore in Q1FY24.

The EBITDA (earnings before interest, tax, depreciation and amortisation) for the period stood at ₹6,295 crore, up 0.7% from ₹6,250 crore in the same period in FY24.

ITC reports revenue growth across segments

The company’s cigarettes division reported a revenue of ₹8,842.22 crore in Q1FY25, up 5.82% over ₹8,355.66 crore in the year-ago quarter.

The company informed the stock exchanges that it continues to combat illicit trade and strengthen its market position by enhancing its product portfolio through innovation. It is also making premium products more accessible across segments, supported by excellent on-ground execution.

In the other FMCG products segment, the revenue increased 6.3% YoY to ₹5,498.8 crore for the quarter ended June 30, 2024, compared to ₹5,172.71 crore in the corresponding quarter in FY24.

The company said that the segment's growth was driven by staples, snacks, dairy, personal wash, fragrances, homecare, and agarbatti.

ITC’s Hotels segment saw a significant growth of 14.15%, with revenue rising to ₹713.3 crore in Q1FY25 from ₹624.9 crore in Q1FY24. The company said that despite fewer wedding dates and the impact of extreme heatwaves and elections on domestic travel, strong growth was observed across properties.

The FMCG giant’s Agri-Business segment recorded a strong revenue growth of 22.19% YoY at ₹6,997.89 crore for the quarter ended June 30, 2024, compared to ₹5,726.98 crore in the year-ago period.

Commenting on revenue contributions by various divisions, ITC said, “Amidst a challenging macro-economic and operating environment and high base effect in some of the operating segments, the company delivered a resilient performance during the quarter.”

Commenting on future growth prospects, the company said, “Moderating inflation, improving agri terms of trade, expectation of normal monsoons and the government's thrust on public infrastructure and the rural sector augur well for a pick-up in consumption demand, building on the green shoots of recovery that are visible in rural markets.”

ITC share price

Shares of ITC Limited closed 0.46% lower at ₹493.05 apiece on the NSE on Thursday. As the company released the June quarter results after market hours on August 1, the impact of the Q1 results on the stock price could be seen on Friday.