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ITC LTD Announces Quarterly Results (1QFY19); Net Profit Up 10.1%

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ITC LTD Announces Quarterly Results (1QFY19); Net Profit Up 10.1%
Mon, 30 Jul

ITC LTD has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

ITC LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m138,004108,132108,7460.6%-21.2%
Other incomeRs m4,7685,1654,039-21.8%-15.3%
TurnoverRs m142,772113,297112,784-0.5%-21.0%
ExpensesRs m100,54066,69266,7250.0%-33.6%
Gross profitRs m37,46441,44042,0211.4%12.2%
DepreciationRs m2,6823,0402,987-1.7%11.4%
InterestRs m10423273-68.4%-29.3%
Profit before taxRs m39,44643,33342,999-0.8%9.0%
TaxRs m13,84114,00614,8135.8%7.0%
Profit after taxRs m25,60529,32728,187-3.9%10.1%
Gross profit margin%27.138.338.6
Effective tax rate%35.132.334.4
Net profit margin%17.925.925.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 21.2% on a year-on-year (YoY) basis. The expenses were down by 33.6% YoY during the same period.
  • The company's operating profit increased by 12.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 38.6% in 1QFY19 as against 27.1% in 1QFY18.
  • Depreciation charges and finance costs increased by 11.4% YoY and 29.3% YoY, respectively.
  • Other income declined by 15.3% YoY during the quarter.
  • Net profit for the quarter increased by 10.1% YoY. Net profit margins during the quarter increased from 17.9% in 1QFY18 to 25.0% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.0% QoQ during the same period.
  • The company's operating profit increased by 1.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 38.6% in 1QFY19 as against 38.3% in 4QFY18.
  • Net profit for the quarter declined by 3.9% QoQ, while net profit margins declined from 25.9% in 4QFY18 to 25.0% in 1QFY19.

To see how ITC LTD has performed over the last eight quarters, please visit here.

ITC LTD Share Price Performance

Over the last one year, ITC LTD share price has moved up from Rs 291.3 to Rs 300.9, registering a Gain of Rs 9.7 or around 3.3%.

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 300.9, the price to earnings (P/E) ratio of ITC LTD stands at 31.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.9 times.

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