ITC Q2 Results FY2023, PAT at Rs. 4466 crores

ITC Q2 Results FY2023

Corporate Action
by Shreya Anaokar Last Updated: 2022-10-21T15:14:47+05:30

On 20th October 2022, ITC announced its second quarter results for the period ending 30th September 2022. 

Q2FY23 Performance updates:

-  Revenue from Operations for the quarter at Rs 15976 Crores, up by 27.4%.
- EBITDA for the quarter at Rs 5864 Crores, a growth of 27.1%
- Net Profit for the quarter was reported at Rs 4466 Crores, with a growth of 20.8%.

Business Highlights:

- The FMCG Businesses witnessed strong growth across channels and markets (both urban and rural) driven by a ramp-up in outlet coverage, enhanced penetration, and last-mile execution. A sharp escalation in input costs was mitigated through multi-pronged interventions viz. strategic cost management, premiumization, supply chain agility, judicious pricing actions, fiscal incentives, leveraging digital and optimizing channel assortments. Segment EBITDA margins have expanded by 280 bps over Q2 FY20. 
- e-Commerce continues to scale up rapidly leveraging account-specific strategies, new product introductions (including e-Commerce first brands), and customized supply chain solutions; availability of products has been further expanded with new trade partners on Quick Commerce and Social Commerce platforms ’
- Dairy & Beverages Business posted strong growth during the quarter, gaining strong consumer traction on the back of best-in-class quality standards, differentiated offerings, and superior taste profile
- ‘Mangaldeep’ Agarbattis and Dhoop witnessed strong growth across product segments. The Agarbatti portfolio continues to provide differentiated offerings to consumers and further strengthened its presence in emerging channels with the launch of channel-specific assortments 
- In the Education and Stationery Products Business, ‘Classmate’ Notebooks further strengthened its leadership position leveraging its flagship campaign ‘Learn with Classmate’.
- Within the Personal Care Products Business, the Fragrances category registered strong growth driven by ‘Engage’. ‘Fiama’ and ‘Vivel’ range of personal wash products performed well during the quarter; ‘Nimyle’ also continued to scale up in the Homecare segment leveraging the Naturals proposition of the brand
- Cigarettes Segment Revenue and Segment Results up 23.3% and 23.6% YoY respectively. The Business continues to launch several differentiated variants to further strengthen and ensure the future readiness of the product portfolio. 
- Hotel Segment EBITDA margin for the quarter stood at 29.0% (Vs. 20.4% in Q2FY20); margin expansion driven by higher RevPAR, operating leverage, and structural cost interventions
- Paperboards, Paper & Packaging Segment continues to deliver strong performance; Segment Revenue up 25.0% and Segment Results up 54.0% YoY; Segment PBIT margin for Q2 FY23 stands at 27.5%
- Agribusiness reported robust growth in Segment Revenue, up 44.0% driven by wheat, rice, and leaf tobacco exports. 

ITC share price dropped by 1.1%


Start Investing in 5 mins*

Get Benefits worth 2100* | Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Shreya Anaokar is a Content Writer at 5paisa. She has completed her Master’s in Finance and Graduation in Statistics from the University of Mumbai. 

Disclaimer

Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.

Open Free Demat Account

& get benefits worth 2100*

Resend OTP
Please Enter OTP
  • Have Promo code?
  • Use code ACT2100
Enter Promo code
Account belongs to

By proceeding, you agree to the T&C.

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number