ITC posts 18 % rise in profit

ITC, on Friday, posted an 18.4 per cent increase in its standalone net profit which touched Rs.8,785 crore in 2013-14 against Rs.7,418.4 crore in 2012-13, backed by a 11 per cent rise in its net sales which touched Rs.32,883 crore.

Q4 profit

For the fourth quarter ended March 31, 2014, the profit rose in a similar proportion touching Rs.2,278 crore.

The company’s efforts to build its non-cigarette business have begun to pay off with this segment recording its maiden profit in fiscal 2014.

“The company continued to deliver strong financial performance with healthy growth in revenue and high quality earnings. This performance is particularly commendable when viewed against the backdrop of the extremely challenging business context,” the company said in a statement.

Revenue from non-cigarettes FMCG grew by 13.66 per cent to Rs.2,314.51 crore, compared with Rs.2,036.20 crore in the same period last year. Revenue from hotels business grew marginally to Rs.320.51 crore from Rs.315.45 crore in fourth quarter of 2012-13.

ITC Limited