ITC Q2 net profit up 21.5% at Rs 1,514 cr - Hindustan Times
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ITC Q2 net profit up 21.5% at Rs 1,514 cr

Hindustan Times | By, Mumbai
Oct 24, 2011 09:29 PM IST

The diversified business major ITC’s net profit by 21.5% year-on-year to Rs 1,514 crore in the second quarter ended September, from Rs 1,247 crore in the corresponding quarter last fiscal.

Reduced losses in its branded packaged foods and ready-to-wear garment businesses, along with strong sales in cigarettes boosted diversified business major ITC’s net profit by 21.5% year-on-year to Rs 1,514 crore in the second quarter ended September, from Rs 1,247 crore in the corresponding quarter last fiscal.

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The net revenues (less excise duties and taxes) also rose by 17.5%, to Rs 6,085 crore from R5,176 crore. For the half year ended September, ITC’s net revenues were up by 19% at Rs 11,928 crore from R10,034 crore in the same period last year while net profit was up 23% at Rs 2,847 crore from Rs 2,317 crore.

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The hotel division showed sluggish growth, witnessing a 0.4% year-on-year rise in its revenues at R234 crore for the quarter and the net profit rose only 2.4% to Rs 43 crore. The slowdown is attributed to the economic crisis in the US and Europe.

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