ITC Ltd announced a slight decrease in its standalone net profit, recording Rs 5,020.20 crore for the March 2024 quarter, a 1.3% drop YoY. Previously, the FMCG giant reported a net profit of Rs 5,086.86 crore during the same period last year.
Sequentially, ITC’s profit showed minimal change from the Rs 5,572.07 crore reported in the December 2023 quarter, demonstrating stability in the company’s financial performance despite slight year-on-year declines.
Revenue from operations for the March 2024 quarter was reported at Rs 17,571.72 crore, showing a marginal 1.4% decrease compared to the previous year’s Rs 17,506.08 crore in the same quarter, indicating a stable revenue stream.
In comparison to the December 2023 quarter, where the revenue was Rs 17,224 crore, the latest revenue figures show a slight increase, reflecting modest growth over the quarter.
Despite the minor drop in year-on-year profit and revenue, ITC’s financial health remains robust, evidenced by the stability in sequential financial metrics and the announced dividend, underscoring the company’s enduring strength in the FMCG sector.