ITC Q3 net up by 15 per cent
Non-cigarette business has accounted for 49 per cent of the company's turnover.india Updated: Jan 20, 2006 20:58 IST
ITC Ltd, on Friday, reported a 15.02 per cent rise in their net profit of Rs 536.83 crore for the third quarter that ended on December 31, 2005, Rs 70.13 crore higher than their profit for the corresponding quarter in the previous fiscal.
Their total income, as a result,increased by 36.30 per cent to Rs 2,604.92 crore in the Q3 period this fiscal from Rs 1,911.12 crore in the same period a year ago, the company informed the Bombay Stock Exchange.
ITC said that their net profit would have been to the mark of Rs 582.27 crore, had it not been for the one-off assistance that the company had extended to contract manufacturers in view of retrospective withdrawal of Central Excise exemption on cigarettes manufactured in the North-Eastern states in 2000.
The non-cigarette business grew 57 per cent and now accounts for 49 per cent of the company's net turnover.
The FMCG business grew by 22.15 per cent to Rs 3141.42 crore during the period. The growth in the segment was led by non-cigarette business.
Branded packaged foods had grown by 85 per cent over the same period last year.