ITC Ltd on Friday reported a 21.46% increase in net profit at Rs 2,230.53 crore for the second quarter ended September 30, driven by a strong performance in the FMCG business.
It had reported net profit of Rs 1,836.42 crore in the July-September quarter of the previous fiscal, 2012-13.
Its net sales during Q2, 2013-14 increased by 8.81% to Rs 7,775.79 crore, from Rs 7,146 crore in the year-ago period, ITC said in a filing to the BSE.
The company's Q2 revenue from FMCG business increased by 12.01% to Rs 5,686.03 crore, as against Rs 5,075.95 crore in the second quarter of last fiscal.
ITC's FMCG business is divided into two categories -- cigarettes and others. Revenue from cigarettes increased by 10% to Rs 3,723.81 crore, while 'others' category showed an increase of 16.05 % at Rs 1,962.22 crore.
Others in FMCG business include packaged foods (bakery and confectionery foods, snack foods, staples, spices and ready-to-eat foods), apparel, education and stationery products, personal care products, safety matches and incense sticks.
Revenue from non-FMCG business which includes hotels, agriculture and paperboard, paper and packaging were at Rs 3,198.17 crore, a decrease of 3.08%.
ITC's total expenses during Q2 were at Rs 4,907.56 crore, an increase of 3.84%, compared with Rs 4,725.91 crore in the year-ago period.
The ITC scrip closed at Rs 340, down 0.74%, on the BSE.