ITC Q3 PAT at Rs23.90bn

Total Income has increased from Rs. 80400.00 million for the quarter ended December 31, 2012 to Rs. 91179.10 million for the quarter ended December 31, 2013.

ITC Ltd has posted results for the third quarter ended 31st December, 2013.

The net profit for the quarter stood at Rs23.90bn.

While sales stood at Rs86.20bn for the quarter.

Total Income has increased from Rs. 80400.00 mn for the quarter ended December 31, 2012 to Rs. 91179.10 million for the quarter ended December 31, 2013.

FMCG

The Branded Packaged Foods businesses posted robust growth in revenues and enhanced market standing across categories by leveraging a portfolio of differentiated and innovative products.

In the Staples, Spices and Ready-to-Eat Foods business, ‘Aashirvaad’ atta sustained its high growth trajectory  and  consolidated its leadership position across markets. The premium variants - 'Multi-grain' and 'Select' - continued to perform well. In the Bakery and Confectionery Foods business, the recently launched ‘Sunfeast Delishus’ gourmet cookies and ‘Candyman Jellicious’ in the jelly segment were extended to target markets and garnered increasing consumer franchise. The business also sustained its leadership position in the cream biscuits segment. The Snack Foods business recorded strong growth during the quarter with the recently launched region-specific variants gaining traction with consumers. In the Instant Noodles category, ‘Sunfeast Yippee!’  grew at a rapid pace gaining consumer franchise. During the quarter, the business also launched a highly innovative 'tricolour pasta' format in 2 exciting variants. The product has received encouraging consumer response in launch markets.

The Personal Care Products business continued to make steady progress in the fast-growing Deodorants category with the 'Engage' range of deodorants continuing to receive good response from consumers. 

The Education & Stationery Products business consolidated its position as the leading player in the Indian stationery market driven by its flagship brands - 'Classmate' for the student community and 'Paperkraft' for office and executive requirements.

Overall, the new FMCG businesses recorded a robust growth of 16.4% in Revenue despite a marked slowdown in consumption expenditure. The segment also recorded a profit of Rs. 10 crores during the quarter on the back of enhanced scale and improvement in profitability.

Hotels

The hospitality sector continued to be adversely impacted by the weak economic conditions and high levels of room inventory in key Indian cities leading to a relatively weak pricing scenario. Consequently, growth in Segment Revenues remained muted. Segment Results, on the other hand, grew by 12.1% during the quarter aided by improved financial performance by ITC Grand Chola.

In line with its strategy of expanding presence in an asset-light manner, the business commenced providing operating services at 3 properties (2 in Kerala, 1 Chandigarh) under the 'WelcomHotel' brand during the quarter. Along with the 390-room WelcomHotel, Dwarka which was operationalised in August 2013, the business has added appx. 650 rooms to its national footprint during the year through the management contract route. Construction activity of the new properties at Kolkata, Hyderabad, Bengaluru and at the Classic Golf Resort near Gurgaon are progressing as per plans.

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