ITC Q2FY22 result: Standalone PAT grows 14 pc to Rs 3,697 cr; revenues increase 12 pc to Rs 13,553 cr

On standalone basis, profit after tax (PAT) of Rs. 3,697 crore for the quarter, an increase of 14 percent from Rs 3,253 crore reported in the year-ago period and by 23 percent from Rs. 3,013 crore reported in FY22Q1.

The standalone revenues rose by 12 percent to Rs 13,553 crore for the quarter compared to Rs 12,103 crore reported in September 2020 quarter and by 5 percent increase quarter-on-quarter from Rs 12,959 crore.

As per the company, “the quarter witnessed broad-based recovery in sales across markets and channels. Reduction in the intensity of the pandemic along with a pick-up in the pace of vaccination led to improvement in the demand environment and consumer sentiment during the quarter”.

However, operating environment was impacted by the unprecedented high inflation and disruptions in global supply chains and logistics.

FMCG-Others business delivered a resilient performance during the quarter, growing over 23 percent on an annualized basis over a high base quarter last year.

FMCG-Cigarettes business revenues grew by 10.3 percent on a y-o-y basis and its earnings before interest depreciation and tax (EBITDA) grew by 10.4 percent.

The company launched two new brands in this business, ‘Storii by ITC’ and ‘Momentos by ITC’ with both having their own unique selling propostions (USPs).

2 new hotels were launched in the country under the brand ‘Welcome’.