ITC shares up 1.5% post Q4 results

ITC Q4 Profit Rises 10% At Rs 2,933 Crore Beats Estimates

Its cigarette revenue during the year ended March 31, also decreased by 32 per cent to Rs 22,894.01 crore.

Hindalco on Wednesday posted 24.98 per cent year-on-year drop in profit at Rs 376.97 crore for the quarter ended March.

For the full year, ITC's net profit rose 10% to Rs11,223.25 crore, or Rs9.16 per share, compared with Rs8.38 per share in fiscal 2017.

Revenue from cigarettes during the March quarter fell by nearly 45 per cent to Rs 4,936.45 crore over Rs 8,954.94 crore in same period of previous fiscal.

"In view of the aforesaid restructuring of indirect taxes, Total Income from Operations for the quarter and twelve months ended 31 March, 2018 are not comparable with the previous periods", said ITC.

Chelsea lead Arsenal in Jean Michael Seri pursuit
The Gunners are unlikely to be alone in their pursuit, given that the 26-year-old almost signed for Barcelona last summer. The Ivory Coast global is reported to be desperate for the chance to play in the Champions League under Pep Guardiola.

"The legal cigarette industry, already reeling under the cumulative impact of a steep increase in taxation over the last five years and intense regulatory pressures, was further impacted by the sharp upward revision in GST Compensation Cess announced in July 2017", the company said.

The Cigarette-to-soap maker's net sales for March quarter is noted at Rs 12,126 crore, which is 9 percent higher on year, as per the Reuters estimates. It was Rs 2,885.76 crore in the year-ago period.

Earnings before interest, tax, depreciationand amortisation (EBITDA) is likely to surge 9 percent YoY to Rs 4,236 crore.

At NSE, shares of the company went up by 1.41 per cent to close at Rs 285.85.

The company posted "muted growth of 3.6 percent in gross sales value (GSV) due to decline in agri business revenue; GSV excluding Agri Business up 5.7 percent driven mainly by FMCG-Others and Hotels", said ITC in a statement. However, its hotel business fared better, posting an EBIT jump of 13 per cent year-on-year in the quarter under review. ITC's shares were trading firm at Rs285.75 each on BSE, up 1.4% at 2.45pm in a weak market.

Related:

Comments

Latest news

Saudi Referee Banned for Life a Month Before the World Cup
He was then pulled from the game with an investigation into the referee by the ethics committee. He also also officiated in the 2016 Olympic Games.

Amazon Alexa developers get eight new voices
Developers can apply for the preview today by filling out a survey with ideas for using Amazon Polly voices in your skill. The eight voices will be in US English and will give devs who use them a chance to liven up their Alexa skills.

Trump Lists Michael Cohen Payment on Financial Disclosure
Trump submitted the document on Tuesday, the deadline for administration employees to file their financial documents. The disclosure shows Trump had at least $511 million in income in 2017, according to Bloomberg .

Karthik (41*) guides his team to a 6 wicket victory
KKR's attack is not the same as it was under Wasim Akram, especially after the injuries they have suffered all season. Rajasthan Royals and Kings XI Punjab are fighting very strongly in the ongoing season of Indian Premier League .

Tamil Nadu government to seek SC directive to notify Cauvery draft
The Tamil Nadu government, meanwhile, objected to Centre's proposal to have the headquarters of the CMB in Bengaluru. However, the Centre failed to submit any scheme related to the distribution of Cauvery water within the given time.

Class-Action Suit Filed against Apple for MacBook Butterfly Keyboards
Girard Gibbs also does not clearly state you have to have experienced keyboard issues to join the lawsuit. Over the years, several problems have emerged with the butterfly keyboard .

Buffalo Bills retiring Thurman Thomas' No. 34 jersey
He was inducted into the Pro Football Hall of Fame in 2007. "This is where I scored touchdowns". The Buffalo Bills are going to retire the jersey of one of their legendary players.

Tusk: US helps European Union to get rid of illusions
The EU should also be "grateful to President Trump ", Tusk said, "because thanks to him we have got rid of all illusions ". Trump's decision to relocate the USA embassy to the contested city of Jerusalem will also be raised.

NAFTA Deal Won't Be Reached By Informal Deadline, According to Mexico
Guajardo said the next government's team would need to be involved in any talks after July 1. Don't expect a NAFTA deal by this week's supposed target date.

US Senate panel approves Haspel as new Central Intelligence Agency chief despite torture claims
The Senate Intelligence Committee on Wednesday approved Gina Haspel , Donald Trump 's selection to lead the CIA. McCain's warning resonated with several critics of the president, including his fellow Arizona Republican Sen.

Iran diplomat visits China for talks on nuclear deal crisis
Facing that reality, Le Maire said the European Union should strengthen its own legal arsenal against any such future US threats. Foreign companies that do business in the country have also been banned from accessing American banking and financial systems.

Christina Aguilera and Demi Lovato release new song 'Fall In Line'
Though Aguilera doesn't explicitly defend his controversial points of view, she doesn't necessarily condemn them either. I think I did choose to, no pun intended, take a chair for so long and do something very commercial for my little ones.

Shenmue 3 Gets Delayed to 2019
We promise to use this time to improve the quality of Shenmue III .We can not thank you enough for your enduring support. A teaser trailer released back in 2017 was criticized for the bizarrely blank facial expressions of its characters.

Two Sherpas smash own Everest summit records
Phurba Tashi, 47, retired from high-altitude climbing in 2013 but still works at Everest's Base Camp helping organise expeditions. Summits are underway every day since May 13 after the eight rope-fixing team members opened the climbing route for all climbers.

EPA inspector general opens investigation of Pruitt's use of multiple email accounts
Udall said Perrotta wrote in the email that Pruitt had encouraged the use of the devices. Such decisions had made Pruitt and the EPA "a laughingstock", he added.

Other news