ITC Ltd. announced on August 1 that its standalone net profit for the June quarter rose marginally to Rs 4,917 crore, from Rs 4,903 crore in the same quarter the previous year, missing market expectations. A Moneycontrol poll of 7 brokerage estimates had pegged ITC’s fiscal first-quarter net profit at Rs 5,137 crore and revenue at Rs 17,171 crore.
Despite falling short of profit expectations, ITC’s revenue from operations increased by 7% year-on-year to Rs 18,220 crore in Q1FY25, up from Rs 16,995 crore in Q1FY24. The company’s diverse portfolio, including cigarettes, FMCG, hotels, paperboards, and packaging, contributed to this revenue growth.
