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ITC's 1QFY01 profit increases by 25% - Views on News from Equitymaster
 
 
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  • Jul 29, 2000

    ITC's 1QFY01 profit increases by 25%

    ITC's profits in the 1QFY01 jumped by 25% to Rs 2.4 bn on the 10.8% increase in the gross turnover. The company has also increased its profit margins to 20.5% (from 17.8% in 1QFY00).

    (Rs m) 1QFY00 1QFY01 Change
    Sales 19,354 21,437 10.8%
    Other Income 176 177 1.0%
    Expenditure 15,915 17,048 7.1%
    Operating Profit (EBDIT) 3,439 4,389 27.6%
    Operating Profit Margin (%) 17.8% 20.5%  
    Interest 315 231 -26.7%
    Depreciation 300 378 26.1%
    Profit before Tax 3,000 3,957 31.9%
    Tax 1,064 1,535 44.3%
    Profit after Tax/(Loss) 1,936 2,422 25.1%
    Net profit margin (%) 10.0% 11.3%  
    No. of Shares (eoy) (m) 245 245  
    Diluted number of shares 245 245  
    Diluted Earnings per share* 31.6 39.5  
    *(annualised)      

    The company has plans to enter the greetings card and branded foods business, while continuing the expansion of the hotels, apparel and information technology division. The company plans to invest around Rs 6 bn in the current year on new initiatives and projects.

    At the current market price of Rs 754, ITC quotes at a PER of 19 times its 1QFY01 annualised earnings on a market cap to sales ratio of 2.2 times.

     

     

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