On January 29, 2024, ITC Limited declared stellar Q3 results. Profit rose by 10.8%, Gross Revenue surged by 2.1%, riding high on sustained growth in cigarettes and FMCG segments.
Source: BSE, ITC Limited Investor Presentation
Gross Revenue (ex-Agri) grew by 3.9% YoY, 2-yr CAGR increased by 10.5%. Resilient FMCG, especially Dairy, Staples, and Beverages, drove a 7.6% YoY increase in FMCG segment Revenue.
Source: BSE, ITC Limited Investor Presentation
FMCG Segment's EBITDA margin rose by 100 bps to 11.0%, PBIT up by 24.1% YoY. Cigarette segment had a stellar run with Revenue and PBIT up by 2.3% YoY.
Source: BSE, ITC Limited Investor Presentation
ITC Limited retained market position with a focus on agility and premium offerings. Hotel segment marked its best-ever quarter with an 18% YoY surge in Revenue.
Source: BSE, ITC Limited Investor Presentation
Despite challenges in Agri business, ITC engages in Climate Smart Agriculture Program, impacting 7.5 lakh farmers. A new facility for nicotine-derivatives and products to start export shipments in Q4 FY24.
Source: BSE, ITC Limited Investor Presentation