ITC posts ₹3,587.2 crore profit for third quarter

ITC Ltd. on Thursday reported a consolidated net profit of ₹3,587.2 crore for the third quarter ended December.

The company had posted a net profit of ₹4,047.9 crore during the October-December quarter of the previous financial year, ITC said in a regulatory filing.

Revenue from operations during October-December 2020 stood at ₹14,124.5 crore. It was ₹13,307.5 crore in the year-earlier period.

Meanwhile, the diversified conglomerate said in a statement the results are not comparable as they also include the revenue of Sunrise Foods, which it had acquired on July 27, 2020.

“Accordingly, the results of the quarter and nine months ended December 31, 2020, are not comparable with previous periods,” it said.

ITC’s total expenses were at ₹9,765.6 crore in the third quarter of 2020-21.

Shares of the company  on Thursday declined 0.53% to ₹226.45 apiece on the BSE.

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