ITC’s results for the January-March quarter (Q4) were strong, with robust growth in the fast-moving consumer goods (FMCG) segment and a good performance in hospitality. The tobacco division’s performance was on expected lines, with double-digit volume growth, helped by reclaiming of market share from the smuggled trade. There was 60 per cent growth in non-cigarette earnings before interest and tax (Ebit), despite a relatively weak performance in paperboards.
ITC reported 6.1 per cent growth in sales to Rs 17,220 crore, 18.9 per cent in earnings before interest, tax, depreciation and amortisation (Ebitda) to Rs 6,210 crore, and 20.1 per cent in adjusted profit after tax (PAT) to Rs 5,030 crore. The strong FMCG returns were, however, offset to an extent by weaker performance of paperboards due to a planned shutdown of pulp mills for capacity expansion, softening pulp prices, and muted demand in global markets.
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