ITC Q4 results review: Shares of ITC declined 1.5% on Friday after the FMCG major reported a sharp decline in consolidated net profit for the March quarter of FY26, primarily due to a high base effect arising from a one-time gain recorded in the previous year following the demerger of its hotels business. The board of directors of the company recommended a final dividend of ₹8 per equity share for FY26.
The stock fell as much as 1.5% to its day’s low of ₹303.30 per share on BSE.
ITC Q4 Results
The company posted a consolidated net profit of ₹5,469.74 crore for Q4FY26, marking a decline of 72.4% on a year-on-year basis compared with ₹19,807.88 crore reported in the corresponding quarter of the previous financial year.
The steep fall in reported profit was largely attributable to an exceptional gain of ₹15,179 crore booked in Q4FY25 after the demerger of the hotels business, which had significantly boosted earnings in the year-ago period.
Excluding exceptional items, consolidated profit from continuing operations increased 6% year-on-year and 9% sequentially to ₹5,469.74 crore. The company had reported profit from continuing operations of ₹5,155.27 crore in Q4FY25 and ₹5,018.45 crore in the December quarter of FY26.
ITC reported consolidated revenue from operations of ₹23,821.48 crore in Q4FY26, registering a growth of nearly 17% year-on-year and about 10% quarter-on-quarter. The company had posted revenue from operations of ₹20,376.36 crore in Q4FY25 and ₹21,706.64 crore in Q3FY26.
For the full financial year FY26, consolidated profit declined 40% to ₹21,018.15 crore compared with ₹35,052.48 crore in FY25. Meanwhile, revenue from operations for the full year increased 10.2% to ₹89,913.33 crore from ₹81,612.78 crore in the previous financial year.
The company’s FMCG segment continued to deliver healthy growth during the quarter. Revenue from the segment rose 15% year-on-year to ₹6,303.73 crore during Q4FY26. The segment also witnessed margin expansion, with EBITDA margin improving by 200 basis points year-on-year to 11%.
However, ITC’s cigarettes business emerged as a key growth driver during the quarter, with segment revenue rising nearly 32% year-on-year to ₹11,066.02 crore.
The company said the cigarettes business maintained volume-led growth despite the increase in taxes on cigarettes that came into effect from February 1, 2026. According to the company, the segment delivered a strong performance till January 2026, aided by strategic portfolio actions and focused market interventions.
“The business continues to make strategic portfolio and market interventions, with focus on competitive belts and to counter illicit trade and reinforce market standing,” the company said.
Dividend: Meanwhile, ITC fixed Wednesday, May 27, 2026 as the record date for determining shareholders eligible to receive the dividend. The company said the dividend payout would be completed between Friday, July 24, 2026, and Wednesday, July 29, 2026.
Including the interim dividend of ₹6.50 per share paid on February 27, 2026, the company’s total dividend for FY26 stood at ₹14.50 per share, slightly higher than the ₹14.35 per share dividend paid for FY25.
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