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ITC net up 26% at Rs 1,010 cr in Q2

ITC Ltd reported a 26 per cent increase in net profit (after tax) at Rs 1,010 crore for the second quarter ended September 30, 2009 as compared with Rs 802.72 during the corresponding quarter of last year.

Total revenue of the company for the second quarter has increased to Rs 4,413.72 crore from Rs 3,973.12 crore in the same period of previous fiscal.

The company has reported strong growth in cigarettes, FMCG others, agri and paper & packaging businesses. According to the statement issued by the company today after the company’s board took the second quarter results on record, profitability has improv ed on the back of better product mix, smarter sourcing of inputs and several targeted cost management actions.

Agri business profit for the period under review has more than doubled, driven by strong leaf tobacco exports. The hotels business of the company, however, continues to be impacted by the global economic slowdown.

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