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ITC posts 18.05% jump in 1st qtr net
The Times of India - 26 Jul 2013

Diversified business conglomerate ITC Ltd on Thursday reported 18.05% increase in net profit at Rs 1,891.33 crore in the quarter ended June 30, 2013 driven by good performance across business verticals.

The company had reported net profit of Rs 1,602.14 crore in the corresponding quarter a year ago. ITC's net sales during the period under review increased by 10.31% to Rs 7,338.52 crore against Rs 6,652.21 crore in the year-ago period, the company said in a statement. The performance has been delivered against a backdrop of a challenging business environment, not least the slowdown in private consumption expenditure and the steep hike in excise duty on cigarettes announced in the Union Budget 2013, it added.

The company's revenue from FMCG business increased by 10.56% to Rs 5,282.05 crore in the quarter as against Rs 4,777.29 crore in the corresponding quarter last year. Its business is divided into two categories: cigarettes and others. Revenue from cigarettes increased by 7.05% to Rs 3,537.39 crore while others up by 18.43% to Rs 1,744.7 crore.