Cigarette-to-hotels major, ITC Ltd, has posted a 24.6 per cent rise in net profit to Rs 1,281.5 crore for the fourth quarter of 2010-11, as against Rs 1,028.2 crore during the same period during the last financial year.

The company’s stocks, however, turned volatile and lost 1.82 per cent to Rs 185.8, down 3.45 points from the previous close of Rs 189.25, on the Bombay Stock Exchange, after investors booked profit following the good quarter numbers. The stock had hit a record high of Rs 194.75 on April 28 this year and a 52-week low of Rs 128.6 on May 21 last year.

The standalone net sales for the period under review had increased 15.5 per cent to Rs 5,836.3 crore, while it was Rs 5,053.8 crore in the fourth quarter of the financial year 2009-10.

The Kolkata-based firm posted a consolidated net profit for the financial year 2010-11 ended on March 31was up 20.4 per cent to Rs 5,017.93 crore, against Rs 4,168.2 crore during the same period last year.

During the year, the company’s consolidated net sales stood at Rs 22,273.7 crore, posting a rise of 16.4 per cent compared to Rs 19,135.87 crore last year. The company board has recommended a total dividend of Rs 4.45 per share for 2010-11, including a special dividend of Rs 1.65 per share, on the occasion of its 100th Annual General Meeting.

The firm witnessed growth across all the segments. The fast moving consumer goods (FMCG) segment, which includes cigarette and non-cigarette businesses like personal care and foods, witnessed a profit before tax (PBT) of Rs 1,402.76 crore during the quarter, posting a 19.6 per cent rise against last year’s Rs 1,172.53 crore. It also saw a 14.1 per cent rise in the segment revenue to Rs 4,079.9 crore during the quarter, while it was Rs 3,575.65 crore during the fourth quarter last year.

Its cigarette business saw a 17.5 per cent increase in PBT to Rs 1,470.6 crore during the quarter, against Rs 1,251.2 crore last year.

On the other hand, PBT from the hotels business was Rs 99.6 crore, a 27.3 per cent upsurge compared to last year’s Rs 78.20 crore. Net revenue from hotels business also zoomed 17.2 per cent to Rs 300.3 crore during the period against Rs 256.2 crore last year.

The agricultural business saw a 43 per cent rise in PBT to Rs 99.75 crore, while it was Rs 69.7 crore during the same quarter last year. Its agri business also witnessed a 9.5 per cent surge in net revenue, as it stood at Rs 1,081.83 crore against Rs 988.09 crore during the same quarter last year.

Source: Business Standard

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