- FARM & PAPER SEGMENTS DRAG GROWTH
CIGARETTE-TO-HOTELS major ITC saw net profit rise for the third quarter (Q3) of FY24. However, revenue growth was sluggish amid muted demand conditions.
The Kolkata-based company, best known for consumer brands such as Sunfeast biscuits and Aashirvaad atta, reported a 6.6% year-on-year growth in its consolidated net profit on Monday to ₹5,335 crore for the December 2023 quarter. This was a miss when compared with the Bloomberg consensus estimate of ₹6,505 crore for the period.
Consolidated revenue in Q3 grew 2.4% year-on-year to ₹19,485 crore, which, though slow, compares favourably with a forecast of ₹18,034 crore for the period, analysts tracking the company said.
Diese Geschichte stammt aus der January 30, 2024-Ausgabe von Financial Express Mumbai.
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Diese Geschichte stammt aus der January 30, 2024-Ausgabe von Financial Express Mumbai.
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