ITC Q3 net rises by 16.78 percent

Mumbai, Jan 19: FMCG Major, ITC Ltd reported a rise of 16.78  percentin its net profit ar Rs 3090.20 crore for the quarter ended December 31, 2017 as compared net profit Rs 2,646.73 crore for the same quarter a year ago.

Exceptional gain of Rs 412.90 crore in respect of Tamil Nadu entry tax that has been written back during the current quarter based on a favourable order of the Supreme Court boosted the bottom line, company said in afiling with BSE.
However Total Income for the quarter under review declines by 25.80 percent to Rs 10579.11 crore as comared with RS 14,257.91 crore for the same quarter a year ago.
Segment-wise, cigarette revenue was down 44.14 per cent at  Rs 4,629.19 crore in October-December, compared with Rs 8,287.97 crore in the year-ago period.
Revenue from hotels increased 9.15 per cent year-on-year to Rs 404.44 crore for the quarter ended December. It had posted hotel revenue of Rs 370.51 crore in the same quarter last year. UNI