ITC Q3 Result: Net profit jumps 21%, beats estimates

Diversified group ITC Ltd on Friday reported a 21.1 percent year-on-year (YoY) jump in net profit at Rs 5,031 crore for the third quarter ended December 31, 2022.

In the corresponding quarter last year, the company posted a net profit of Rs 4,156.2 crore. CNBC-TV18 Polls had predicted a profit of Rs 4,635 crore for the quarter under review.

Total revenue stood at Rs 16,225.7 crore during the period under review, up 2.3 percent against Rs 15,862 crore in the corresponding period of the preceding fiscal. CNBC-TV18 Polls had predicted a revenue of Rs 16,875 crore for the quarter under review.

At the operating level, EBITDA jumped 22 percent to Rs 6,223.2 crore in the third quarter of this fiscal over Rs 5,102.1 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 38.4 percent in the reporting quarter as compared to 32.2 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation and amortization.

The board has approved an interim dividend of Rs 6 a share for the financial year ending on March 31, 2023.