Published on 29/06/2020 12:21:17 PM | Source: Angel Broking Ltd

Quote On 4QFY20 results of ITC by Mr. Rajit Rajoriya, Angel Broking

Posted in Expert Views| #Expert Views #Rajit Rajoriya

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel 

Download Telegram App before Joining the Channel

Below is the Quote On 4QFY20 results of ITC by Mr. Rajit Rajoriya, Equity Research Associate, Angel Broking Ltd.

“Standalone Revenue from operations declined by 6.4% to Rs.11,420 crore compared to Revenue of Rs.12,206 crore in the same period of 2018-19. EBITDA for the quarter stood at Rs.4,163 crore as compared to the street's estimate of 4,495.06 crore while EBITDA margins came in at 36.5%. Net profit was up by 9% to Rs 3,797 crore.  All business segments reported a degrowth led by Agri business (-10.2% YoY),  Hotels (-8.6% YoY) Cigarettes (-6.5% YoY), Paperboard (-5.1% YoY) and FMCG (-2.8% YoY).  ITC has been aggressive in its FMCG business – launching sanitisers and hand washes, leveraging its extensive distribution network and acquiring a key regional spice brand. However, it has lost around 40 days of cigarette sales due to the lockdown. Its hotels and paper segments, too, are likely to be impacted due to the loss of business. While it missed the Street estimates due to decline in revenues across all segments, the performance of its FMCG segment has kindled hopes of an improved show in the latter part of the year.”