ITC Q3 Results FY2023, PAT at Rs. 5,031 crores

On 3rd February, the ITC announced its results for the third quarter of FY2023.

Key Highlights:

- The Gross revenue stood at Rs. 17,122 crores, up by 2.9% YoY, and the Net revenue stood at Rs. 16,084 crores up by 2.2% YoY.
- EBITDA was reported at Rs. 6223 crores, up by 22% YoY.
- The profit before tax stood at Rs. 6,678 crores, up by 21.6% YoY.
- ITC reported a Net Profit was reported at Rs. 5,031 crores, up by 21% YoY.

Business Highlights:

- The FMCG Businesses continue to deliver strong performance with Segment Revenue growing 18.4% YoY.
- Strong growth in Staples, Biscuits, Noodles, Snacks, Dairy, Beverages, and Frozen Foods
- ‘Aashirvaad’ Atta posted strong growth reinforcing its leadership position in the branded atta industry
- ‘Bingo!’ Snacks posted robust performance during the quarter. Recently launched variants viz. ‘Bingo! Hashtags Cream & Onion’, ‘Bingo! Hashtags Spicy Masala’, ‘Bingo! Street Bites Dahi Chaat Remix’ and ‘Bingo! Street Bites Pani Puri Twist’ have been well received by consumers and is being scaled up. 
- ‘YiPPee!’ Noodles recorded strong growth on the back of increased penetration and brand outreach.
- ‘Sunfeast’ Biscuits and Cakes recorded strong growth during the quarter leveraging its strong brand equity.
- Dairy & Beverages Business posted strong growth during the quarter on the back of best-in-class quality standards, differentiated offerings, and superior taste profile.
-  In the Personal Care Products Business, ‘Fiama’ and ‘Vivel’ range of personal wash products delivered strong performance during the quarter while ‘Nimyle’ continued to scale up in the Homecare segment leveraging the Naturals proposition of the brand
- The Hygiene portfolio remained subdued, though ahead of pre-pandemic levels. Product portfolio continues to be augmented with innovative launches viz. ‘Engage One Soul’ (inclusive grooming, transcending traditional gender norms) and ‘Engage Indigo Skies’ (unique aromatic fusion). 
-  In the Education and Stationery Products Business, ‘Classmate’ Notebooks fortified its leadership position by leveraging its flagship campaign ‘Learn with Classmate’
- ‘Mangaldeep’ Agarbattis and Dhoop recorded robust growth during the quarter anchored on a range of differentiated products and enhanced availability
- The Cigarettes Business continues to reinforce its market standing by fortifying the product portfolio through innovation, democratizing premiumization across segments, and enhancing product availability backed by superior on-ground execution.
- The Hotel business RevPAR is ahead of pre-pandemic levels driven by Retail (packages), Leisure, Weddings, and MICE segments.
- Paperboards, Paper, and Packaging Segment continues to deliver strong performance.
- Agri-Business Segment PBIT up 32.6% driven by growth in leaf tobacco exports and value-added agri products. Segment Revenue for the current quarter reflects the impact of restrictions imposed on wheat and rice exports by the Government during the year.