By IANS,
Kolkata: Cigarette-to-hotel conglomerate ITC Ltd. Friday reported a 21.27 percent rise in its net profit to Rs.1,836.42 crore for the quarter ended Sep 30, 2012, up from Rs.1,514.31 crore during the same period last year.
Gross revenue from operations of the company, India’s fourth biggest by market capitalisation, stood at Rs.10,223.86 crore during the second quarter of the current fiscal, registering a growth of 19.9 percent over the corresponding period a year ago, driven primarily by branded packaged foods, agri business and cigarettes.
The non-cigarette Fast Moving Consumer Goods (FMCG) segment registered a revenue growth of 26.4 percent in the period under review and improved profitability, the company said in a release here.
Business in branded packaged foods recorded significant growth during the quarter across all major categories, it said, adding the hospitality sector continued to be adversely impacted by the weak economic conditions prevailing in key international source markets and India.
The firm’s revenues from agri business recorded a robust growth of 41 percent during the quarter, backed by wheat exports.