ITC Q4 net up 25 at R1,281 crore

For the quarter,cigarettes contributed by registering a 13.2 per cent growth in gross revenues,thanks to price hikes and improved product mix. For the year,cigarettes saw a 12.8 per cent growth in net revenues while non-cigarette FMCG business grew by 23 per cent. Net turnover for the year was up 17 per cent at Rs 21,167.58 crore,driven by double-digit growth in agri business,hotels and so forth.

For the year,net profit was pegged at Rs 4987.61 crore,up 23 per cent from the corresponding period last fiscal. According to a company release,cash generated from operations stood at Rs 7,460 crore during the year,compared to Rs 6632 crore in the previous year.

Analysts at Angel Broking said earnings for the quarter grew by a robust 25 per cent yoy to Rs 1,282 crore,below our expectation of a 28.8 per cent yoy growth to Rs 1,325 crore,aided by high other income up 52.2 per cent yoy to Rs 226 cr and flattish margins up 18 basis points yoy to 30.7 per cent.

For the full year,analysts said the operating margins expanded by 33 basis points,aided by operational efficiency. On the centenary year,the Board had recommended a special dividend of Rs 1.65 per share previous year Special Centenary Dividend,adjusted for bonus issue,Rs 2.75 in addition to a dividend of Rs 2.80 per share for the year ended March 31.