ITC profit up 3% to ₹5,244 cr

CIGARETTE-TO-FMCG major ITC reported a 3% year-on-year (y-o-y) increase in consolidated net profit (attributable to owners of the company) to ₹5,244 crore in the June quarter (Q1FY26), led mainly by its cigarettes and agri businesses.

- Viveat Susan Pinto

The Q1 profit number was in line with Street estimates of ₹5,114 crore for the period.

The company reported consolidated gross revenue of ₹23,129 crore for Q1, marking a sharp 19.5% rise compared to ₹19,350 crore reported a year ago. Revenue net of excise was ₹21,495 crore, higher than the Bloomberg consensus estimate of ₹18,754 crore. Cigarettes contribute 41% to ITC's topline, while the non-cigarette FMCG business contributes 25% to turnover, according to sector analysts.

Sequentially, gross revenue of ₹20,376 crore was up by 13.5%. The profit in the previous quarter was ₹19,727 crore, which included an exceptional gain from an accounting entry related to the demerger of its hotels business, effective January 1, 2025.