ITC Ltd, India's biggest cigarette maker and FMCG giant, reported on Wednesday a 3.84 percent rise in its year-on-year net profit for the quarter ended December.
The company said net profit stood at Rs 3,209.07 crore. The net profit in the corresponding quarter of last financial year was Rs 3,090.20 crore.
The results were better than the analysts' estimates, according to Reuters Refinitiv Eikon data.
However, ITC stock traded 4.75 percent lower at Rs 276 on the National Stock Exchange.
Cigarette segment revenue up 9.59%
The company said income from operations was Rs 12,267.65 crore, which was 15.79 percent higher than the income in the year-ago period. While earnings per share (EPS) stood at Rs 2.62 against Rs 2.54 in the corresponding quarter last year, total revenues from FMCG space was Rs 8,274.36 crore.
Net sales rose 14.86 percent to Rs 11,431.26 crore in the third quarter. Net sales of the company increased 14.86 per cent YoY to Rs 11,431.26 crore during the quarter under review.
Coming to the busies segments, revenue from cigarette business rose 9.59 percent year on year to Rs 5,073.38 crore. Revenue from the hotel and agricultural sector recorded 11.72 percent and 25.72 percent year on year growth.
On day of choppy trade, the Sensex closed 336 points lower. The benchmark BSE Sensex closed 336.17 points down at 36,108.47. The rupee gained 17 paise to trade at 71.27 against the US dollar.