ITC Q4 net profit drops 1.3% to Rs 3,748.4 crore, misses estimates

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Diversified conglomerate ITC on Tuesday reported a 1.3 percent decline in consolidated net profit at Rs 3,748.4 crore in the March 2021 quarter.

ITC Q4 net profit drops 1.3% to Rs 3,748.4 crore, misses estimates
Diversified conglomerate ITC on Tuesday reported a 1.3 percent decline in consolidated net profit at Rs 3,748.4 crore in the March 2021 quarter.
In the corresponding quarter last year, the Kolkata-headquartered company posted a net profit of Rs 3,797 crore. CNBC-TV18 Poll had predicted a profit of Rs 3,765 crore for the quarter under review.
Its revenue from operations was at Rs 15,404.37 crore during the quarter under review. It was Rs 12,560.64 crore in the corresponding period of 2019-20.
However, ITC said its results for this quarter are not comparable with the earlier period as it also includes the revenue of Sunrise Foods, which it had acquired on July 27, 2020.
"The financial results of the group and 'FMCG Others' of the quarter and the financial year ended on March 31, 2021, include those of Sunrise from July 27, 2020, and consequently are not comparable with previous periods," it said. ITC's total expenses were at Rs 10,944.64 crore in Q4 FY 2020-21.
For the full fiscal year 2020-21, ITC's net profit was at Rs 13,389.80 crore. It had posted a net profit of Rs 15,584.56 crore in FY20. Revenue from operations came in at Rs 53,155.12 crore. It was Rs 51,393.47 crore in 2019-20.
The board has recommended a final dividend of Rs 5.75 per share for the financial year 2020-21.
The results came after the close of the market hours. Shares of ITC on Tuesday settled at Rs 215.20 on BSE, down 0.65 percent from the previous close.

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