Thursday, October 28, 2021

ITC Net Profit rises 14% in Q2 | Stock Analysis & Outlook


ITC Net Profit Rises 14% To ₹ 3,697 Crore In September Quarter, Revenue Up 11%

FMCG-to-hotel major ITC Limited announced its July-September quarter results for the financial year 2021-22, reporting a net profit of ₹ 3,697 crore on a standalone basis, compared to ₹ 3,252.62 crore in the corresponding period last year, marking a growth of 14 per cent year-on-year.

The cigarette segment's volumes registered recovery with exit volumes at near pre-COVID levels in the September quarter, according to a regulatory filing by ITC to the stock exchanges today. The company's revenue from operations in the second quarter of the current fiscal stood at ₹ 13,356.15 crore. compared to ₹ 12,018.91 crore, registering a growth of 11.12 per cent year-on-year.

The cigarette segment reported a 10.2 per cent growth in revenue at ₹ 5,642 crore compared to ₹ 5,121 crore in the corresponding quarter last year. The revenue of FMCG- Others segment in the September quarter increased 23 per cent year-on-year, and eight per cent sequentially. The segment's 'Out-of-Home' consumption registered a sharp rebound tracking and improved mobility even as 'at-home' consumption moderated.

Stock Outlook

ITC stock can outperform in upcoming time and can test 284 - 302 . Follow buy on dips and hold firmly.

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