Mumbai, July 31 (IANS) FMCG major ITC Limited on Friday reported a 16.2 per cent year-on-year (YoY) decline in its consolidated net profit for the quarter ended June 30 (Q1 FY27), as weakness in its cigarette and agri businesses offset strong revenue growth and robust performance in its non-cigarette FMCG portfolio.

The company posted a consolidated net profit of Rs 4,394.13 crore in the April-June quarter of FY27, compared with Rs 5,244.20 crore in the corresponding quarter last financial year (Q1 FY26), according to its stock exchange filing.

On a sequential basis, profit declined 18.4 per cent from Rs 5,387.97 crore reported in the March quarter.

Revenue from operations, however, rose 27.6 per cent year-on-year to Rs 29,523.30 crore, compared with Rs 23,129.35 crore a year ago.

On a quarter-on-quarter basis, revenue increased 23.9 per cent from Rs 23,821.48 crore. Consolidated gross revenue also climbed 27.8 per cent year-on-year to Rs 29,410 crore.

At the operating level, EBITDA declined 24 per year-on-year to Rs 5,181 crore, as per its regulatory filing.

On a standalone basis, ITC reported a 27.1 per cent decline in net profit to Rs 3,579 crore, while revenue fell 14.4 per cent year-on-year to Rs 16,812 crore.

Standalone EBITDA dropped 27.9 per cent to Rs 4,514 crore, with EBITDA margin contracting by 500 basis points to 26.7 per cent.

The company’s cigarette business delivered mixed performance during the quarter. Gross revenue from the segment surged 80.6 per cent year-on-year to Rs 15,383.55 crore, although net revenue declined 25 per cent.

Profit before tax from the business fell 35 per cent to Rs 3,341.23 crore, as per its filing.

ITC’s FMCG-Others business continued to deliver healthy growth. Segment revenue increased 12 per cent year-on-year to Rs 6,481.95 crore, while excluding staples, revenue grew 16 per cent.

Profit before tax from the segment rose 21 per cent to Rs 478.61 crore, supported by strong demand across categories.

–IANS

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