ITC 2010-11 net up 23% at Rs4,987.6 cr | business | Hindustan Times
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ITC 2010-11 net up 23% at Rs4,987.6 cr

Diversified business conglomerate ITC posted a 23% growth in its post-tax profits for 2010-11 at Rs,987.6 crore, while gross turnover during the year grew by 17% to Rs0,604.4 crore.

business Updated: May 20, 2011 21:59 IST
HT Correspondent

Diversified business conglomerate ITC posted a 23% growth in its post-tax profits for 2010-11 at Rs,987.6 crore, while gross turnover during the year grew by 17% to Rs0,604.4 crore.

Net turnover of the company grew 17% at Rs,1167.6 crore, primarily driven by a 23% growth in the non-cigarette FMCG businesses, 23% growth in agri business and 18% growth in the hotels segment.

For the fourth quarter, post-tax profits grew by 25% at Rs.1,281.5 crore, a company statement said.

The Board has recommended a total dividend of Rs.45 per share for 2010-11 including a special dividend of Rs1.65 per share on the occasion of the company’s 100th annual general meeting.

The non-cigarette FMCG segment registered robust revenue growth of 23%, while the hotels business posted robust performance with revenues and profits growing by 18% and 23% respectively. Agri business profits grew by 26% for the year.

“The company today is the leading FMCG marketer in India, the second largest hotel chain, the clear market leader in the Indian paperboard and packaging industry and the country’s foremost agriculture business player,” the statement said.