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Informist, Thursday, Jan. 29, 2026

 

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--ITC Oct-Dec FMCG others ops EBITDA margin 10%, up 145 bps on year
--ITC: Q3 FMCG ops margin up on price hikes, premiumisation, cost savings
--ITC:Saw moderation in leaf tobacco procurement prices in current crop cycle
--ITC: Leaf tobacco consumption cost remains elevated
--ITC: Sharp rise in tax incidence on cigarette will encourage illicit trade
--ITC Oct-Dec EBITDA margin 35.1%, up 50 bps on year
--ITC Oct-Dec EBITDA, ex-paper, up 8.3% on year
--ITC Oct-Dec EBITDA INR 62.71 bln, up 7.6% on year
--ITC Oct-Dec paper, packaging revenue INR 22.02 bln vs INR 21.44 bln yr ago
--ITC Oct-Dec agri business revenue INR 35.60 bln vs INR 33.51 bln year ago
--ITC Oct-Dec cigarettes revenue INR 87.91 bln vs INR 81.36 bln year ago
--ITC Apr-Dec revenue INR 598.00 bln vs INR 557.42 bln year ago
--ITC Apr-Dec net profit INR 151.81 bln vs INR 156.34 bln year ago
--ITC interim dividend record date is Feb 4
--ITC to pay INR 6.50 per share interim dividend
--ITC Oct-Dec profit excluding exceptional cost INR 53.63 bln
--ITC Oct-Dec one-time cost INR 2.74 bln on account of new labour codes
--ITC Oct-Dec net profit includes one-time cost INR 2.74 bln
--ITC Oct-Dec revenue INR 193.59 bln vs INR 182.90 bln year ago
--ITC Oct-Dec net profit INR 50.89 bln vs INR 56.38 bln year ago
--Analysts saw ITC Oct-Dec revenue at INR 185.01 bln
--ITC Oct-Dec revenue INR 193.59 bln
--Analysts saw ITC Oct-Dec net profit at INR 51.50 bln
--ITC Oct-Dec net profit INR 50.89 bln
 

 

By Narayana Krishna

 

HYDERABAD – ITC Ltd. on Thursday reported a nearly 10% year-on-year fall in its net profit to INR 50.9 billion for the December quarter, marginally below the Street estimate of INR 51.5 billion. The net profit for the quarter took a hit due to a one-time cost of INR 2.74 billion on account of the new Labour Codes. Excluding exceptional costs, the net profit for the quarter was INR 53.6 billion, above the consensus estimate.

 

ITC's revenue for the quarter rose by nearly 6% on year to INR 193.6 billion, higher than the estimate of INR 185.0 billion, led by growth across all business segments. Excluding the excise duty, ITC revenue rose by 6% on year to INR 180.17 billion. On a quarter-on-quarter basis, ITC's net profit declined by nearly 2%, while revenue was almost flat.

 

The company's core cigarettes business reported 8% year-on-year revenue growth in the quarter to INR 87.9 billion. Sustained volume growth helped the company to post growth in the cigarettes segment, the company said in a release. ITC said differentiated variants and premium category products helped the company register strong growth in the segment. Leaf tobacco consumption costs remain elevated in the December quarter, though the company partly mitigated them through product mix and cost management interventions, ITC said.

 

ITC said there was a moderation in leaf tobacco prices in the current crop cycle. The company said the sharp rise in tax on cigarettes will encourage illicit trade in the country. "Punitive taxes on the legal cigarette industry in earlier years have resulted in rapid growth of illicit cigarette trade, making India the 4th largest illicit cigarette market globally according to Euromonitor estimates," ITC said, adding that the illicit cigarette trade is estimated to cause a loss of about INR 230 billion a year to the exchequer.

The company's paper and packaging division's revenue for the quarter was INR 22.02 billion, up from INR 21.44 billion a year ago. ITC said the paper industry was affected by low-priced imports, while the company also faced disruptions due to planned plant shutdowns. 

 

The agri-business revenue for the quarter improved to INR 35.60 billion from INR 33.51 billion a year ago, led by robust growth in value-added agriculture products, the company said.

ITC's December quarter earnings, before interest, tax, depreciation, and amortisation was at INR 62.71 billion, up 7.6% on year. Excluding the paper division, the EBITDA growth was at 8.3%. The EBITDA margin for the quarter improved by 50 basis points to 35.1%.

ITC said the fast-moving consumer goods segment's EBITDA margin improved by 145 basis points on year to 10% during the quarter, mainly led by price hikes, premiumisation, and cost savings.

ITC's board recommended an interim dividend of INR 6.50 per share, with the record date set for Feb. 4. 

 

For Apr-Dec, ITC reported a net profit of INR 151.81 billion, down 3% on year, and revenue of INR 598 billion, up 7% on year. 

 

On Thursday, ITC shares ended at INR 318.60 on the National Stock Exchange, down 0.8% from its previous close.  End

 

Edited by Saji George Titus

 

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