In terms of top line growth, the thrust from the non-cigarette FMCG business while the agri business saw a sharp fall in revenues.
However, cigarettes continue to contribute more than 75% of the total operating profits of ITC in the latest quarter. The top line growth was specifically driven by staples and convenience foods as well as the out of home (OOH) categories.
Cigarette segment revenues remained robust amidst greater stability in the tax regime. For the hotels business, the occupancy and the ARR are well above the pre-pandemic levels for IT in the September 2022 quarter.
In fact, non-cigarette FMCG saw 150 bps spike in the EBITDA margins for the quarter. Hotels reported robust EBITDA margins of 29% in the quarter while paperboards had EBIT margins of 27% in the quarter.
PAT margins were lower at 24.83% in the Sep-22 quarter compared to 25.02% in the Sep-21 quarter but higher compared to 22.14% in June 2022 quarter.
Financial highlights for Sep-22 compared yoy and sequentially
ITC Ltd | |||||
Rs in Crore | Sep-22 | Sep-21 | YOY | Jun-22 | QOQ |
Total Income (Rs cr) | ₹ 18,608.00 | ₹ 14,844.38 | 25.35% | ₹ 19,831.27 | -6.17% |
Operating Profit (Rs cr) | ₹ 6,135.71 | ₹ 4,904.95 | 25.09% | ₹ 5,815.87 | 5.50% |
Net Profit (Rs cr) | ₹ 4,619.77 | ₹ 3,713.76 | 24.40% | ₹ 4,389.76 | 5.24% |
Diluted EPS (Rs) | ₹ 3.72 | ₹ 3.02 | ₹ 3.56 | ||
OPM | 32.97% | 33.04% | 29.33% | ||
Net Margins | 24.83% | 25.02% | 22.14% |
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