ITC Q1 net profit up 15.6%

Profit Before Tax increased by 18.2% to Rs. 3265.67 crores

ITC recorded another strong performance during the quarter with robust growth in revenue and profits despite a challenging business environment. Net Revenue for the quarter grew by 24.9% toRs. 9164.42 crores, driven by Agri Business and FMCG Segments. Profit Before Tax increased by 18.2% to Rs.3265.67 crores while Net Profit at Rs. 2186.39 crores registered a growth of 15.6%. Earnings Per Share for the quarter stood at Rs. 2.75. The Branded Packaged Foods Businesses posted healthy growth in revenues during the quarter, despite sluggish demand conditions and a marked deceleration in industry growth rate. In the Staples, Spices and Ready-to-Eat Foods Business, ‘Aashirvaad’ atta sustained its high growth trajectory consolidating its leadership position across markets. In the Bakery and Confectionery Foods Business, the recently launched ‘Sunfeast Farmlite’ range of cookies in the health segment continues to garner increasing consumer franchise. The Business also rebranded its offerings in the mid-price cream Biscuits segment under the ‘Sunfeast Bounce’ sub-brand for sharper positioning in the market. In the Snack Foods Business, ‘Bingo!’ registered robust growth driven by the finger snacks portfolio comprising the ‘Mad Angles’, ‘Tangles’, ‘Tedhe Medhe’ and ‘Galata Masti’ sub-brands. The 'Original Style' variants of Bingo! Yumitos potato chips, launched in Feb'14, gained good traction in launch markets. In the Instant Noodles category, ‘Sunfeast YiPPee!’ continued to record healthy growth leading to improvement in market standing. During the quarter, the Personal Care Products Business expanded its portfolio in the Deodorant category with the addition of two new variants each for men and women, taking the total number of variants under the ‘Engage’ brand to 14. Engage has garnered impressive market standing in a relatively short span of time and continues to gain traction in the market. The Education & Stationery Products Business consolidated its position as the leading and fastest growing player in the Indian Stationery market. During the quarter, the Business further expanded its presence in the popular segment of notebooks with the extension of the ‘Saathi’ brand in more markets.