ITC Ltd on Friday posted a 16.3% year-on-year rise in net profit to Rs. 2,385 crore during the October-December quarter against Rs. 2,052 crore a year ago, aided by a growth in its fast-moving consumer goods (FMCG) and hotels business.
Net sales of the company rose 13.1% to Rs. 8,623 crore during the quarter compared to Rs. 7,627 crore in the corresponding period of the previous fiscal.
Earnings from fast-moving consumer goods business grew 20.5% to Rs. 2,663 crore during the third quarter.
Segment profit stood at Rs. 10 crore driven by enhanced scale and improvement in operating leverage, "the company said in a statement on Friday. During the quarter, the company's hotels business posted a profit of Rs. 62 crore on the back of an improved financial performance by ITC Grand Chola.
The growth in segment revenues in the hotels business remained muted mainly due to weak economic conditions, it added.
13.1% Rise in ITC's net sales to Rs. 8,623 cr during the October-December quarter
Rs. 2,663 cr Profit from the company's FMCG business
Rs. 62 Cr Profit from its hotels business.