Overview
- Standalone revenue fell 3.4% year-on-year to Rs 18,021.25 crore, missing the Bloomberg consensus of Rs 19,466 crore.
- Net profit rose 2% to Rs 5,179.82 crore, marginally topping the Rs 5,131 crore estimate.
- Ebitda increased 2% to Rs 6,252.01 crore, below the Rs 6,390.7 crore forecast, while the operating margin expanded to 34.7% from 32.8% a year earlier.
- Cigarettes grew 6.8% with strength in premium offerings, FMCG rose 7% despite operational disruption from the new GST regime, paper gained 5%, and the agriculture business contracted 31% due to delayed call-offs linked to US tariff uncertainty.
- ITC said leaf tobacco consumption costs remain elevated with some moderation in procurement prices, and it noted GST rate cuts across over half of the FMCG portfolio with benefits passed on to consumers; the board was slated to consider voluntary delisting from the Calcutta Stock Exchange today.