FMCG major ITC on Wednesday posted 9.86 per cent year-on-year rise in profit at Rs 2,932.71 crore for the quarter ended March.
ETNow poll had predicted a profit of Rs 2,917 crore.
The firm had posted a net profit of Rs 2,669.47 crore in the corresponding quarter last year.However, revenue from operations declined to Rs 10,813.24 crore during the quarter under review against Rs 15008.82 crore in the same quarter last year.The board recommended a dividend of Rs 5.15 per equity share on face value of Rs 1 each for financial year ended March 31.Total income increased 6.94 per cent year-on-year to Rs 11,329.74 crore in March quarter as against Rs 15,410.92 crore in the corresponding quarter last year.IT majors cigarette revenue for the quarter came in at Rs 4,936 crore, while EBIT from the revenue stood at Rs 3,505 crore in March quarter.The board of directors of the company on Tuesday re-designated Sanjiv Puri, CEO Wholetime Director, as the Managing Director of the company with effect from May 16, 2018.Shares of the company reacted positively to the earnings and they were trading at Rs 287.05, up by Rs 5.25 or 1.86 per cent.