FMCG and tobacco conglomerate ITC on July 24 reported its standalone profit for the first quarter ended June 2021 at Rs Rs 3,013.5 crore as against the CNBC-TV18 poll of Rs 3,325 crore. The figure was at Rs 2,342.76 crore in the corresponding period in the previous fiscal.
ITC’s revenue from operations in Q1FY22 increased 36.4 percent year-on-year to Rs 12,959.15 crore, and revenue (excluding excise duty) jumped 37.1 percent YoY to Rs 12,217.13 crore during the quarter.
Gross revenue stood at Rs.12,884.45 crore representing a growth of 36.6% y‐o‐y while earnings before interest, taxes, depreciation, and amortization (EBITDA) at Rs. 3992.16 crore grew 50.8% y‐o‐y, the company said in a statement.
“Localised lockdowns and mobility restrictions imposed by States in a bid to contain the sharp increase in daily Covid‐19 infections in the second wave rendered the operating environment during the quarter extremely challenging and impacted the strong recovery momentum witnessed in recent quarters,” the firm said.
It added that the company continues to closely monitor the situation and will respond with agility to enhance its market standing while managing risks associated with the heightened uncertainties in the business environment.
(Edited by : Kanishka Sarkar)
First Published: IST