ITC revenue rises 28% as profit falls 27%; shares gain on FMCG and cigarette optimism
ITC reported standalone revenue of Rs 26,943 crore, up 28% year-on-year, while net profit fell 27% to Rs 3,579 crore and EBITDA margin narrowed to 16.75%. The stock rose in midday trade as broker commentary pointed to resilient cigarette demand and FMCG growth.
ITC shares rose after Q1 results despite a profit decline, supported by broker optimism on cigarette demand and FMCG growth. TVS posted strong July sales, Redington benefited from Apple distribution demand, and Urban Company reported improving operating performance.
Why this matters
The results follow signals that ITC cigarette volumes fell 5% in Q1 while FMCG cushioned earnings, and that HUL's Q1 growth outpaced ITC as brokerages assessed margin recovery and dividends.
Retail-company signals are accelerating, up 227050% QoQ.