ITC Q1 Results Fy22-2023

The Indian conglomerate, ITC, announced its financial results for the first quarter of FY23 on 1st August 2022. The company reported its profit after tax (PAT) at Rs. 4,389.76 crore in this quarter, which increased 33.98% YoY (year on year) from Rs. 3,276.48 crore in Q1 FY22 and 4.63% QoQ (quarter on quarter) from Rs. 4,195.69 in Q4 FY22. 

The increase in profits can be credited to a growth in the company’s revenue from operations, which stood at Rs. 19,831.27 crore in the quarter under review, rising 39.26% YoY from Rs. 14,240.76 crore in the same quarter of the previous year. 

The total income of ITC was up 37.02% YoY, standing at Rs. 20,152.00 crore during the quarter ended 30th June 2022, as against Rs. 14,687.80 crore in the same quarter last year. 

Looking at its segments, ITC’s corporate strategy aims at creating multiple drivers of growth anchored on its core competencies. The company is currently focused on four business groups – FMCG, Hotels, Paperboards, Paper & Packaging and Agri Business. The revenue from Hotels was up a whopping 334.44% YoY to Rs. 580.71 crore in Q1 FY23. This growth can be attributed to the travel and tourism sector recovering after the covid-19 pandemic. This was followed by a 82.3% YoY increase in revenue from Agri Business, a 43.25% YoY growth in revenues of the Paperboards, Paper and Packaging segment, and a 25.05% YoY increase in the FMCG revenues. 

During the quarter ended 30th June, 2022, 1,46,85,760 ordinary shares of Rs. 1/- each were issued and allotted under the Company's Employee Stock Option Schemes. 

The basic earnings per share (EPS) of the company was reported at Rs. 3.56 in Q1 FY23, showing a growth of 33.83% YoY from Rs. 2.66 in Q1 FY22. Ahead of the results, the ITC share closed in the green at the end of the trading session at Rs. 307.80, rising 1.57% from the previous day’s closing price. 

Hits of ITC Q1 Results 2023

• Profit after tax (PAT) of the company stood at Rs. 4389.76 crore in this quarter, increasing 33.98% YoY and 4.63% QoQ.
• Revenue from operations stood at Rs. 19831.27 crore, growing 39.26% YoY.
• Total income of the company was up 37.02% YoY, standing at Rs. 20152.00 crore in Q1 FY23. 
• Earnings per share of the company was reported at Rs. 3.56 in Q1 FY23, showing a growth of 33.83% YoY.