ITC Q4 Profit Zooms 24%

ITC Q4 Profit Zooms 24%ITC closed the fourth quarterly period of 2011-12 with an increase of 26% in its post-tax profit that remained at Rs 1,614.4 crore on a net income of Rs 6,861 crore that remained 17.6% up as against the corresponding period of the last year.

The company stated that its performance was driven by the healthy recital in the non-cigarette section.

Broadening its operations aggressively over the past few years, particularly in the FMCG space, the company now has presence in hotels, paper and paperboards, personal care as well as agriculture biz.

The company’s profits for the last financial surged 23.6% hitting Rs 6,162.4 crores on a turnover of Rs 24,798.4 crore that was 17.2% up from 2010-11.

The company, which announced a dividend of around Rs 4.5 per share during 2011-12, stated that in 2011-12, non-cigarette FMCG biz originate by 23.6%.

But, hotels biz continued to be hit by the feeble environment in worldwide markets in addition to the domestic financial system.

On the hotels biz, which stayed flat, ITC stated that the international and domestic biz sections for the luxury hotels biz remained subdued.

The company’s paperboards biz was impacted by the rupee reduction, even though the company was able to somewhat blunt the impact via its incorporated operations.