<p>Bengaluru: Consumer goods major ITC on Thursday reported a marginal rise in its standalone net profit to Rs 5,638 crore for the October-December quarter, as compared to Rs 5,573 crore in the year-ago period. This beat analyst estimates, who were expecting a profit of Rs 5,190 crore, as per LSEG. </p>.<p>“With improving agri terms-of-trade, healthy kharif output and improvement in rabi sowing, rural consumption is expected to build on the gradual recovery momentum witnessed in recent months; there are incipient signs of recovery in urban demand as well,” the company said in a press release. </p>.ITC Hotels lists on bourses, shares drop on day one.<p>The Indian conglomerate also announced the acquisition of Prasuma, a frozen foods brand. However, the acquisition amount wasn’t disclosed. ITC will acquire 100 per cent stake in Prasuma over a period of 3 years.</p>.<p>This comes at a time when larger companies have resorted to acquiring direct-to-consumer brands to cater to a different and a niche audience. </p>.<p>Meanwhile, its revenue rose by about 9 per cent to Rs 18,290 crore on the back of its expansion measures. For ITC, as with its peers, the premium portfolio has shown a strong performance while the mass portfolio has suffered. However, on the back of uptick in government spending and private investments, ITC expects a pick-up in demand.</p>.<p>“Severe inflationary pressures witnessed in prices of edible oil, wheat, maida, potato, cocoa, packaging inputs etc., partially mitigated through focused cost management initiatives, calibrated pricing actions and premiumisation,” the company added. </p>.<p>The group’s two major revenue drivers - consumer and cigarettes business rose 4 per cent and 8 per cent, respectively. </p>.<p>Cut-off box - Britannia closely monitoring price inflation Biscuit maker Britannia Industries on Thursday reported a 4.8 per cent rise in its consolidated net profit to Rs 582 crore for the quarter ended December 31. The company beat analyst estimates who were pencilling a profit of Rs 521 crores according to LSEG. Consumer goods companies have resorted to price hikes to push away margin squeeze including Britannia. </p><p>“We will closely monitor commodity price inflation and implement targeted price increases for specific brands and categories as needed. Our focus shall continue to be on driving market share while sustaining profitability” said Vice Chairman and Managing Director Varun Berry. Its revenue for the third quarter of the current fiscal year (Q3FY25) grew 8 per cent to Rs 4593 crore while overall expenses rose 8 per cent to Rs 3875 crore.</p>
<p>Bengaluru: Consumer goods major ITC on Thursday reported a marginal rise in its standalone net profit to Rs 5,638 crore for the October-December quarter, as compared to Rs 5,573 crore in the year-ago period. This beat analyst estimates, who were expecting a profit of Rs 5,190 crore, as per LSEG. </p>.<p>“With improving agri terms-of-trade, healthy kharif output and improvement in rabi sowing, rural consumption is expected to build on the gradual recovery momentum witnessed in recent months; there are incipient signs of recovery in urban demand as well,” the company said in a press release. </p>.ITC Hotels lists on bourses, shares drop on day one.<p>The Indian conglomerate also announced the acquisition of Prasuma, a frozen foods brand. However, the acquisition amount wasn’t disclosed. ITC will acquire 100 per cent stake in Prasuma over a period of 3 years.</p>.<p>This comes at a time when larger companies have resorted to acquiring direct-to-consumer brands to cater to a different and a niche audience. </p>.<p>Meanwhile, its revenue rose by about 9 per cent to Rs 18,290 crore on the back of its expansion measures. For ITC, as with its peers, the premium portfolio has shown a strong performance while the mass portfolio has suffered. However, on the back of uptick in government spending and private investments, ITC expects a pick-up in demand.</p>.<p>“Severe inflationary pressures witnessed in prices of edible oil, wheat, maida, potato, cocoa, packaging inputs etc., partially mitigated through focused cost management initiatives, calibrated pricing actions and premiumisation,” the company added. </p>.<p>The group’s two major revenue drivers - consumer and cigarettes business rose 4 per cent and 8 per cent, respectively. </p>.<p>Cut-off box - Britannia closely monitoring price inflation Biscuit maker Britannia Industries on Thursday reported a 4.8 per cent rise in its consolidated net profit to Rs 582 crore for the quarter ended December 31. The company beat analyst estimates who were pencilling a profit of Rs 521 crores according to LSEG. Consumer goods companies have resorted to price hikes to push away margin squeeze including Britannia. </p><p>“We will closely monitor commodity price inflation and implement targeted price increases for specific brands and categories as needed. Our focus shall continue to be on driving market share while sustaining profitability” said Vice Chairman and Managing Director Varun Berry. Its revenue for the third quarter of the current fiscal year (Q3FY25) grew 8 per cent to Rs 4593 crore while overall expenses rose 8 per cent to Rs 3875 crore.</p>