Dividend Rs 6.25/Share Declared: FMCG Company Reports 11% Surge In Net Profit

Large cap company operating in Tobacco sector, ITC Ltd on Monday announced a surge of 11% in its standalone net profit for the quarter ended December 2023 to Rs 5,572 crore as against Rs 5,031 crore declared in the corresponding quarter of last year. Sequentially, ITC declared a jump of 13% in its net profit from Rs 4,927 crore declared in September quarter.

Last trading price of ITC Ltd shares on BSE is Rs 450.00 with intraday fall of 1.20%. ITC also announced an interim dividend of Rs 6.25 per share for the FY 2023-24 and fixed February 8, 2024 as the record date. ITC shares 107% in last 2-years and declined 3.89% in last 1-week. Check details below:

ITC Declares Interim Dividend, Record Date Set: The board of directors of ITC declared in its regulatory filing issued today, "declared Interim Dividend of t 6.25 per Ordinary Share of t 11- each for the financial year ending on 31st March, 2024; such Dividend will be paid between Monday, 26th February, 2024 and Wednesday, 28th February, 2024 to those Members entitled thereto."

ITC Q3 Result: ITC declared a growth of 6.5% in its consolidated net profit to Rs 5400.51 crore for the December quarter. The company declared its total revenue from operations soared 2% on year-on-year basis to Rs 17,651.85 crore from Rs 17,265 crore. Meanwhile, consolidated revenue surged 2.4% to Rs 19,484.50 crore. EBIDTA for the quarter arrived at Rs 6,024 crore, down 3.2%. EBIDTA margin declared at 36.6% and declined by 180 basis points YoY.

ITC witnessed robust performance in the FMCG - Others segment amid passive demand conditions, with a YoY surge of 7.6% in segment revenue and a 2-year CAGR at 12.8%. The growth was pushed by several categories that included staples, dairy, beverages, fragrances, personal wash, homecare, agarbattis, and notebooks. The segment's EBITDA margin expanded by 100 bps YoY to 11.0%, and the segment PBIT increased by 24.1% YoY, the company stated.

Cigarettes: In the Cigarettes Segment, consolidation took place on a high base after sustained growth momentum. The net segment revenue and segment PBIT soared by 2.3% YoY, with a 2-year CAGR at +9.3% for net segment revenue and +9.4% for segment PBIT. The market standing was reinforced via focused portfolio/market interventions and strong execution, with differentiated and premium offerings performing well. The segment's sustained volume recovery from illicit trade was observed due to deterrent actions and tax stability.

Hotels: It recorded its best-ever quarter with segment revenue and PBIT soaring by 18% and 57% YoY, respectively. The segment EBITDA margin surged by 470 bps YoY to 36.2%, pushed by higher RevPARs, structural cost interventions, and operating leverage. The demerger plan obtained no-objection from the Stock Exchanges, according to the company.

Agri Business: It came across challenges due to trade restrictions on agri commodities (-2.2% YoY), but excluding Wheat & Rice, revenue soared by 14.2% YoY. Geopolitical tensions and climate emergencies led to worries over global food security and inflation, leading to trade restrictions.

ITC Stock Performance & Return: The 52-week high price of ITC shares on BSE is Rs 499.60 per share and 52-week low price is Rs 329.00 per share, respectively. The company has a market capitalisation of Rs 5,61,560.18 crore. ITC shares gained 3.81% in last 3-months, fell 3.96% in last 6-months, jumped 30% in last 1-year, and offered return of 121% in last 3-years. In last 5-years, the scrip soared 61%.

ITC About: ITC is one of India's foremost private sector companies. ITC has a diversified presence in FMCG, Hotels, Packaging, Paperboards & Specialty Papers and Agri-Business. ITC's aspiration to be an exemplar in sustainability practices is manifest in its status as the only company in the world, of its size and diversity, to be carbon, water and solid waste recycling positive. In addition, ITC's businesses and value chains create sustainable livelihoods for more than 6 million people, a majority of whom represent the poorest in rural India, according to its official website.