ITC Ltd has posted gross revenue of Rs 20,140 crore from the sale of products and services in the quarter ended December 31, 2024, reflecting a 5.7% increase year-on-year (YoY) from Rs 18,520 crore in Q3 FY23. However, it declined by 5.8% from Rs 21,387.1 crore compared to the preceding quarter (Jul-Sep 2024). The total revenue from operations for the period stood at Rs 20,349.9 crore, marking a QoQ decline of 5.5%.
The total profit for the quarter amounted to Rs 5,013.18 crore, which was 0.8% less than Rs 5,054.43 crore in the preceding quarter and 7.3% less than the Q3 FY24 figure of Rs 5,408.52 crore. Segmental Revenue for Q3 FY25’s cigarette business stood at Rs 8,944.8 crore, which was up 7.8% YoY from Rs 8,295.1 crore in Q3 FY24. Compared to Rs 8,877.8 crore in Q2 FY25, the segment saw a 0.8% QoQ increase.
The total FMCG segment revenue came in at Rs 14,372.5 crore for the Oct-Dec 2024 quarter, up 6.4% YoY from Rs 13,513.4 crore. On a QoQ basis, revenue saw a marginal decline of 0.6% from Rs 14,463.1 crore. The Personal Care Products Business delivered resilient performance during the quarter led by the ‘Fiama’ range of Personal Wash products and ‘Nimyle’ range of Homecare products.
The agri segment generated Rs 3,626 crore in revenue for Q3 FY25, showing a 10.8% YoY growth from Rs 3,273.2 crore in Q3 FY24. However, the revenue saw a sharp 37.9% QoQ decline from Rs 5,845.2 crore in Q2 FY25. Paperboards, Paper & Packaging segment garnered a revenue of Rs 2,144.8 crore in Q3 FY25, up 3.1% YoY from Rs 2,080.9 crore in the similar quarter of the preceding fiscal year. The segment witnessed a 1.5% QoQ growth, rising from Rs 2,114.1 crore in Q2 FY25.
Subdued realisation and surge in domestic wood prices continue to weigh on margins Near-term challenges continue to be mitigated through sharp focus on portfolio augmentation, export customer/market development and structural cost management interventions, as per the conglomerate.
The company’s press release said, “Severe inflationary headwinds were witnessed across several key inputs (viz. edible oil, wheat, maida, potato, cocoa, packaging inputs etc.) during the quarter. The impact of sharp escalation in key input costs was partially offset through focused cost management, calibrated pricing actions and premiumisation. Competitive marketing investments were sustained during the quarter despite short-term inflationary pressures towards supporting growth and market standing.”
Recently, the National Company Law Tribunal sanctioned the scheme for demerger of the Hotels Business of the company into ITC Hotels Limited. Consequently, the Hotels business has been reported as ‘Discontinued Operations’ in the financial results for the Quarter and Nine Months ended 31st December 2024.
Upon the Scheme becoming effective, the Hotels Business (along with all assets and liabilities thereof, excluding ITC Grand Central Mumbai) and the investments held by the Company in Hospitality entities, along with certain identified Corporate assets and liabilities have been transferred to ITCHL on a going concern basis.
The company also informed that it has executed Definitive Agreements for the acquisition of 100% of the share capital of Ample Foods Private Limited [AFPL - along with Chao Chao Foods Private Limited, a wholly owned subsidiary of AFPL] and Meat and Spice Private Limited. The company is well-known for its frozen food brand Prasuma.
The company said that the acquisition is in line with the company objective to establish presence in the frozen, chilled and read-to-cook foods industry, which is estimated at over Rs 10,000 crore
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