ITC shares climb over 2% post Q4 earnings announcement

New Delhi: Shares of consumer goods giant ITC Ltd on Friday climbed over 2 per cent after the firm reported 2 per cent rise in March quarter net profit.

The stock went up by 2.39 per cent to settle at Rs 436.30 on the BSE. During the day, it jumped 3 per cent to Rs 439.

At the NSE, it climbed 2.32 per cent to Rs 436.

In volume terms, 12.20 lakh shares of the firm were traded at the BSE and 185.37 lakh shares on the NSE during the day.

ITC Ltd on Thursday reported 2 per cent rise in its March quarter net profit on the back of a surge in rural demand and steady growth in the mainstay cigarettes business.

Its standalone net profit before tax and exception items of Rs 6,416.85 crore in January-March FY25 is compared with Rs 6,287.57 crore earnings a year back, according to a company statement and stock exchange filing.

These earnings are after taking into account the demerger of the hotel business. One-time gain from the demerger of ITC Hotels was Rs 15,179 crore.

A recovery in rural demand backed by a good monsoon offset the impact of soft consumption in urban areas due to inflation.

ITC's earnings from the cigarette business, which generates the highest revenue, was up 4 per cent at Rs 5,118 crore. Revenue from its consumer goods segment, which houses popular household brands like Aashirvaad, Sunfeast and Bingo, rose 3.7 per cent to Rs 5,495 crore.

Gross revenue in Q4 rose 9.2 per cent year-on-year to Rs 18,266 crore, while EBITDA was up 2.5 per cent at Rs 5,986 crore.

For the full fiscal, ITC posted a profit of Rs 20,092 crore on a revenue of Rs 73,465 crore. This is compared with Rs 19,910 crore profit on a revenue of Rs 66,657 crore.

Full-year gross revenue climbed 10.2 per cent and EBITDA rose 2.3 per cent.