ITC Ltd's Q4FY19 standalone net profit rises 18.7% yoy to Rs3,481.9cr : Beats Estimates

The company’s standalone revenue stood at Rs11,992.1cr, up 13.3% yoy and 6.8% qoq.

May 13, 2019 09:05 IST India Infoline Research Team

ITC Ltd Q4FY19

Standalone Results Q4FY19: (Rs. in cr)

Q4FY19 YoY (%)
Revenue (Net) 11,992.1 13.3
EBITDA 4,571.7 10.3
EBITDA Margin (%) 38.1 [102]
Net Profit (adjusted) 3,481.9 18.7
***EBITDA margin change is bps

ITC's numbers for the quarter came in-line with estimates on sales and operating fronts, however, it was higher than estimates on the PAT front. Revenue (net of excise duty) grew by 13.3% yoy to Rs11,992.1cr, in-line with consensus estimates. EBITDA grew by 10.3% yoy to Rs4,571.7cr, in-line with estimate. EBITDA margin stood at 38.1%, contraction of 102bps yoy. PAT grew by 18.7% yoy to Rs3,481.9cr, ~8% above estimate.
  • As per the reported numbers, Cigarette revenues (adjusting for the excise duty) grew 6.8% yoy. EBIT grew by 10% yoy with 212bps EBIT margin expansion.
  • FMCG reported sales growth of 14% yoy to Rs3273.9cr with 43.1% yoy jump in EBIT. EBIT margin for the segment stood at 4% (up 81 bps yoy).
  • Hotels segment reported 24.9% yoy revenue growth with EBIT growth of 17.5%; EBIT margin contracted by 110bps yoy.
  • Agri segment’s revenue was up 16.2% yoy with 18.8% growth in EBIT. EBIT margin remained flay yoy.
  • Paperboard segment reported 18.2% yoy growth in revenue with EBIT growth of 24% and EBIT margin expansion of 91bps yoy.
  • Sanjiv Puri has been appointed as the Chairman of the Company with effect from May 13, 2019.
  • Company has recommended dividend of Rs5.75 per equity share for FY19.

Technical View:

ITC Ltd is currently trading at Rs. 288.60, down by 9.1 points or 3.06% from its previous closing of Rs. 297.70 on the BSE.
The scrip opened at Rs. 296 and has touched a high and low of Rs. 303.50 and Rs. 288.35 respectively. So far 3,49,05,528 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.

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