ITC Ltd reported on Thursday, October 24, 2024, reported a net profit of ₹5,078.3 crore, for the second quarter of the financial year 2024-25, a 3.1% year-on-year (YoY) increase compared to ₹4,927 crore, in the same quarter last year.
ITC revenue surged by 16.8% to ₹19,327.8 crore from ₹16,550 crore in Q2 FY24, surpassing CNBC-TV18’s poll forecast of ₹17,710 crore.
The diversified conglomerate’s EBITDA or earnings before interest, tax, depreciation, and amortisation for the quarter stood at ₹6,335.2 crore, falling short of the CNBC-TV18 poll estimate of ₹6,375 crore.
The company’s cigarette volumes grew by 3%, aligning with market expectations of 2-3%, according to sources.
ITC Q2 results came after the close of the market hours. Shares of ITC Ltd ended at ₹471.85, down by ₹8.70, or 1.81% on the BSE.
ITC’s diversified portfolio, including FMCG, hotels, paperboards, and agri-business, continues to contribute to its financial resilience.