ITC posts rise in net

Itc Ltd on Friday reported a 12 per cent growth in profit before tax (PBT) and 18 per cent in profit after tax (PAT) for the quarter to December 31, 2003. PAT in the latest quarter was Rs 381 crore on a net sales turnover of Rs 1,665 crore, against Rs 324 crore on Rs 1,502 crore for the same period of the previous year. Other income increased by 22 per cent to Rs 42 crore. Pre-tax profit was Rs 567 crore in the latest quarter, against Rs 506 crore in the same quarter of the previous year. Earnings per share for the quarter was Rs 15.38. Three of the company’s four main segments — FMCG, hotels, paperboards and specialty paper, and agribusiness — reported strong growth. But agribusiness was impacted by slower marketing of the current Mysore leaf tobacco crop and delayed exports shipments of soya.