FMCG major ITC on Friday reported 21% jump in net profit at Rs 5,031 crore for the quarter ending December 31, 2022 as against Rs 4,156 crore in the year-ago period. The company declared an interim dividend of Rs 6 per share.
ITC’s revenue rose 2.3% to Rs 16,225 crore in Q3FY23 as compared to Rs 15,862 crore in Q3FY22.
On Friday, ITC’s scrip on BSE closed trading 0.5% higher at Rs 380.70.
ITC said consumer sentiments improved during the December quarter but remained below pre-pandemic levels. “Rural demand continued to be relatively subdued while improving sequentially. Potential risks from anticipated slowdown in global economy, continuing geo-political tensions remain key monitorables,” said the cigarette-to-FMCG conglomerate.
Total expenses dipped 3.29% to Rs 12,772.27 crore from Rs 13,207.28 crore in the year-ago period.