Shares of ITC reported decent set of numbers, broadly in-line with estimates on all fronts in Q1FY19 numbers. The company’s revenue (net of excise duty) grew by 7.6% yoy to Rs10,707.0cr, in-line with the estimates.
EBITDA grew by 12.2% yoy to Rs4,202.1cr with EBITDA margin of 39.2%, an improvement of 161bps yoy. Its PAT grew by 10.1% yoy to Rs2,818.7cr, in-line with the estimate of Rs2,815.9cr.
On a comparable basis, gross sales (net of rebates/discounts) for the quarter grew by of 13.5% yoy driven mainly by the Agribusiness, FMCG-Others and FMCG-Cigarettes segments.
With consumers getting used to the increased price levels, volume growth in cigarettes returned to positive territory after three consecutive quarters of volume decline. Cigarette volume grew by 1.5% yoy. Cigarette EBIT grew 8.7% yoy, broadly in-line with estimates.
ITC Ltd is currently trading at Rs301.25 up by Rs14.1 or 4.91% from its previous closing of Rs287.15 on the BSE.
The scrip opened at Rs300 and has touched a high and low of Rs302.10 and Rs294.85 respectively.
No comments:
Post a Comment