ITC Q3 net jumps 20% to Rs 2,052 cr

ITC Q3 net jumps 20% to Rs 2,052 cr

Diversified group ITC on Friday reported 20.62 per cent rise in its standalone net profit at Rs 2,051.85 crore for the third quarter ended December 31, 2012 on the back of strong performance in the cigarettes, agri-products and paper businesses.

The company had posted a net profit of Rs 1,700.98 crore in the same period last fiscal, ITC said in a filing to the BSE.

Net sales during the period under review stood at Rs 7,627.07 crore, up 23.1 per cent from Rs 6,196.43 crore in the corresponding period last financial year.

The total FMCG net revenue during the quarter stood at Rs 5,440.06 crore with the cigarettes category accounting for Rs 3,657.36 crore.

Paper, paperboards and packaging business clocked net revenue of Rs 1,061.55 crore in the third quarter. Hotels segment had a net revenue of Rs 309.46 crore, while the agri business posted net sales of Rs 1,630.97 crore.

ITC scrips were trading at Rs 287.50 per share, in the afternoon trade, up 0.82 per cent from the previous close on the BSE.