Volume pickup noted as inflation moderates: ITC CMD Sanjiv Puri

As inflation is moderating, diversified group LITC is seeing green shoots of volume growth and expects the momentum to continue sequentially, its Chairman and Managing Director Sanjiv Puri said on Sunday.

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This will certainly lead to improvement in volume, but it will not happen overnight, said Puri in New Delhi on the sidelines of the B20 Summit organised by the CII. Over the ITC's plan for the demerger of its hotel business, Puri said it is going to benefit the existing shareholders by incorporating a wholly-owned new subsidiary ITC Hotels Ltd.

"It will be a pure-play, focused on hospitality, which can leverage the institutional strengths of ITC. And ITC in turn will be able to leverage the synergy on its hospitality business, or its FMCG businesses," Puri told the media.

It is a "very robust" model, which will help the business to make the hotel business accelerate progress, whilst retaining synergies and it will improve the financial metrics of ITC, he added.