ITC Q4 Results 2024: Net Profit falls 1.3% to ₹5,020 crore, Final Dividend Declared

Synopsis

ITC Ltd's standalone net profit for the March quarter amounted to ₹5,020.2 crore, marking a 1.31% decline from the corresponding quarter of the previous year.

Result Performance

ITC Ltd recorded a standalone net profit of ₹5,020.2 crore in the March quarter, marking a 1.31% decline compared to the same period last year. The profit decline was attributed to stagnant cigarette sales and reduced margins in the FMCG segment. The result fell short of analysts' expectations. A Moneycontrol survey involving six brokerages had estimated ITC's consolidated net profit at ₹5,114 crore, indicating a 0.5% increase.

Revenue increased by 1.40% to ₹17,752.87 crore, exceeding initial projections of ₹16,945 crore. EBITDA declined by 0.8% to ₹6,162.6 crore. EBITDA margins decreased by 70 basis points (bps) year-over-year to 37.2%.

The company proposed a final dividend of ₹7.50 per ordinary share for the fiscal year concluding on March 31, 2024. Together with the interim dividend of ₹6.25 per share announced on January 29, 2024, the total dividend for the year amounts to ₹13.75 per ordinary share.

About ITC

ITC, a leading Indian private sector conglomerate, boasts a diverse portfolio spanning various industries. It stands as the country's top FMCG marketer and dominates the Indian Paperboard and Packaging market. Moreover, ITC is a global pioneer in empowering farmers through its extensive Agri Business operations. In the hospitality sector, it is a preeminent hotel chain in India, renowned for its commitment to 'Responsible Luxury.'

ITC Infotech, a wholly-owned subsidiary of ITC, specializes in providing digital solutions globally. In the past decade, ITC's new Consumer Goods Businesses have cultivated a diverse collection of 25 top-tier Indian brands, each dedicated to creating and maintaining value within the country.

ITC's world-class FMCG brands including Aashirvaad, Sunfeast, Yippee!, Bingo!, B Natural, ITC Master Chef, Fabelle, Sunbean, Fiama, Engage, Vivel, Savlon, Classmate, Papercraft, Mangaldeep, Aim, and others have garnered encouraging consumer franchise within a short span of time.