The price of ITC shares dropped on Friday after the cigarette manufacturer’s Q1 earnings fell short of Street expectations. The price of an ITC share on the BSE slipped as much as 2.29% to ₹482.40 a share.
ITC Ltd reported a standalone net profit of ₹4,917 crore in the first quarter of FY25, up 0.3% from ₹4,903 crore in the same quarter last year.
In Q1FY25, the company’s operating revenue increased 7.2% to ₹18,219.74 crore from ₹16,995.49 crore the previous year. With cigarette volume growth of 2.7% YoY, its cigarettes sector revenue climbed 7% YoY to ₹7,918.10 crore.
Revenue from the hotel business climbed by 11% to ₹665.56 crore, while income from FMCG increased by 6.3% to ₹5,491.03 crore. While the paperboard, paper, and packaging segment continued to struggle and fell 6.8% YoY, the Agri business had a 22% YoY rise.
As of 10:25 am, ITC shares were trading 0.98% lower at ₹488.85 on the NSE.
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