ITC Q4 results: Net profit falls 1% to ₹5,120.5 crore, dividend announced

FMCG major ITC Limited reported a 1% decline in its consolidated net profit to ₹5,120.5 crore in the fourth quarter of the fiscal year 2023-24. In the year-ago period, the net profit was ₹5,175.4 crore.

The revenue from operations increased 2% to ₹19,446.4 crore in the January-March quarter as compared to ₹19,058.2 crore in the corresponding period last year.

The company also recommended a final dividend of ₹7.50 per share for the FY24.

ITC's cigarettes business reported a revenue growth of 7.7% at ₹7925 crore for the quarter ended in March 2024.

Segment revenue

• Cigarettes: ₹7925 (+7.7% YoY)
• FMCG others: ₹5300 (+7.2%)
• Hotels: ₹898 (+14.9% YoY)
• Agri business: ₹3101 (-13.4% YoY)
• Paperboards, paper and packaging: ₹2073 (-6.7% YoY)

EBIDTA (Earnings before interest, tax, depreciation and amortization) for the quarter under review was at ₹6,162.6 crore , while EBITDA margins dropped 70 bps to 37.2%.

For full FY24, consolidated net profit increased 6.6% to ₹20,458.7 crore, while revenue rose by 0.4% to ₹76,840.4 crore.

"ITC e-Store, the company’s exclusive Direct to Consumer (D2C) platform, is now operational in 24,000+ pin-codes and continues to receive excellent consumer response. Category specific D2C platforms viz. Classmateshop.com, Dermafique.com, Fiama.in and Aashirvaadchakki.com are being scaled up to foster consumer insights, as well as commerce," the company said in a regulatory filing.

Shares of ITC were trading 0.3% higher at ₹441.4 on the NSE.