ITC Ltds net profit for the quarter to March FY13 grew 19.4 per cent year-on-year to Rs 1,927 crore from Rs 1,614.36 crore during the corresponding period of the previous year. Profit grew on the back of a growth in the non-cigarette FMCG sector,which attained break even point for the first time,and hints at the segment being a likely profit centre for the company in future.
ITC scrip closed at Rs 334.70 on the BSE,down 0.62 per cent from previous close.
The company registered growth across all segments despite gestation costs to the new FMCG business and recent investment in the paperboards,paper and packaging and hotel businesses.
The company has installed new paper machines at Bhadrachalam in Andhra Pradesh. The companys net turnover during the fourth quarter of FY13 grew 19.2 per cent year-on-year to Rs 8,180.30 crore from Rs 6,861.35 crore during the same period in FY12.
For the full financial year,ITCs consolidated net profit grew 21.6 per cent year-on-year to Rs 7,693.58 crore from Rs 6,322.39 crore in FY12. The companys gross income in FY13 grew 19.48 per cent year-on-year to Rs 45,102.45 crore.
The profits were a result of growth in all segments with revenue from the non- cigarette segment growing 26.4 per cent year-on-year. Revenue from the agri business grew 26.4 per cent year-on-year driven by better realisation and higher volumes,while paper board revenues increased 9.1 per cent year-on-year with product mix enrichment and higher volumes aiding it,ITC said.
However,steep increase in wood,coal and chemical costs restrained revenue growth in the paper board segment,which would have otherwise earned more,the company statement said.
Revenues from cigarette grew 13.4 per cent year-on-year in FY13. The cigarette segment,the major contributor to ITCs top line registered a pre-tax profit of Rs 10,684.18 crore with the profit growing 20.1 per cent year-on-year.
Gross sales of cigarette increased 17.5 per cent year-on-year with a 2.5 per cent growth in volume. The hotel businesses top line grew 10 per cent year-on-year.
The companys compounded earnings per share for the year stood at Rs 9.45,from Rs 7.93 the previous year.
The board on Friday declared a dividend Rs 5.25 per share against a dividend of Rs 4.50 per share the previous year. The dividend would cost the company Rs 4,853.49 crore in FY13 against Rs 4,089.04 crore in FY12.