Diversified conglomerate ITC on Thursday reported a marginal decline in net profit in Q1FY25, dragged by paper, paperboard and packaging, hospitality, and agri-businesses.
ITC clocked in a 0.26 per cent year on-year (Y-o-Y) drop in the consolidated net profit in this period to ₹5,091.59 crore from ₹5,104.93 crore in the year-ago period. The company reported consolidated gross revenue of ₹20,029.60 crore for Q1FY25, up by 7.5 per cent compared to ₹18,639.48 crore a year back.
The revenue net of excise at ₹18,457 crore came in higher than the Bloomberg consensus estimate at ₹17,892 crore.
However, the net profit fell short of the Bloomberg estimate, which pegged it at ₹5,451 crore. Sequentially, the gross revenue was up three per cent, and the net profit was down 0.56 per cent.
Bu hikaye Business Standard dergisinin August 02, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin August 02, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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FY25 as weak-earnings year is gradually getting priced in
Even as many blame record foreign portfolio outflows for the market downturn, the real culprit is weak earnings amid rich valuations, says GAUTAM CHHAOCHHARIA, head of global markets, India, UBS. In an interview with Samie Modak in Mumbai ahead of the UBS India Summit, Chhaochharia highlights that 2024-25 (FY25) weak earnings growth is now factoring into market expectations. Investors are shifting their focus to the actions of the Reserve Bank of India (RBI) and the central government, as well as the outcome of upcoming state elections. Edited excerpts:
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