ITC Financial Results for the Quarter ended 31st December, 2019 Post tax profit up 29%

ITC Financial Results for the Quarter ended 31st December, 2019 Post tax profit up 29%



• FMCG-Others Segment Revenue up 6.1% on a comparable basis amidst continued slowdown in the FMCG industry.
– Segment EBITDA up 48% to Rs. 256 crores notwithstanding higher marketing investments, gestation and start-up costs of new categories/new facilities.
• Strong growth in existing properties and robust performance of new properties drive Hotels Segment Revenue (up 22.2%) and Segment EBITDA (up 40.1%).

– ITC Royal Bengal, Kolkata continues to set new benchmarks in culinary and service excellence in a relatively short span of time.
– Welcomhotel Amritsar, commissioned on 1st November 2019, receives excellent response.

• Paperboards, Paper & Packaging Segment Revenue witnessed muted growth on a relatively firm base due to slowdown in the FMCG and liquor industry and depressed realisations on softening of global pulp prices.

• In the Agri Business segment, growth in Segment Revenue was driven by trading opportunities in oilseeds, pulses & coffee and scaling up of value added segments (spices and frozen snacks). Subdued demand for leaf tobacco in international markets accentuated by relatively steeper depreciation in currencies of competing origins and adverse business mix  weighed on Segment Results.

• Exceptional items represent cost of leaf tobacco stocks (including taxes) destroyed at a third party owned warehouse due to fire caused by lightning, for which insurance claim has been filed and is under process.

• ITC has been ranked #1 globally amongst peers (comprising companies with market capitalisation between USD 38 Bln. and USD 51 Bln.) and overall #3 globally on ESG performance in the Food Products industry by Sustainalytics — a renowned global ESG ratings company.

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