ITC Q4 net rises 9% to Rs 3,797 crore on FMCG push

KOLKATA: FMCG-to-hotel-to-tobacco major ITC has witnessed a 9% jump in net profit in the fourth quarter of 2019-20 to Rs 3,797 crore, largely owing to lower taxes and good performance of the new FMCG business, except lifestyle retailing.
However, the company’s revenue for the quarter was down to Rs 12,175 crore from Rs 12,946 crore during the year-ago period.
The new FMCG business registered a 5% revenue growth on comparable basis, while it has also registered a profit of Rs 146 crore.