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ITC Q3 profit rises 4% YoY to Rs 3,209 crore, ebitda margin misses Street estimates

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NEW DELHI: FMCG major ITC on Wednesday reported 3.85 per cent year-on-year (YoY) rise in standalone profit at Rs 3,209.07 crore for December quarter. Analysts in an ET NOW poll had estimated profit at Rs 3,201 crore. The cigarette maker had reported Rs 3,090.20 crore profit in December quarter of previous fiscal. Ebitda margin for quarter at 37.8 per cent fell short of ET Now poll estimate of 40 per cent. Net sales for quarter came in at Rs 11,431.26 crore against Rs 9,952.19 crore in corresponding quarter last year. Other income for quarter rose to Rs 836.39 crore from Rs 642.36 crore in year-ago quarter. Cigarette ebit for quarter came in at Rs 3,557 crore, up 8.8 per cent YoY.

JM Financial had expected Ebit of cigarette business to rise 11.7 per cent, which would have been first double-digit Ebit growth for segment in 11 quarters.




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