ITC shares rose over 1% on Tuesday, 3 November, after the diversified conglomerate reported its Q2 FY27 results, with consolidated profit declining 18.45% year-on-year amid a sharp increase in expenses.
The company's consolidated net profit stood at ₹4,229.33 crore in the September quarter, compared with ₹5,186.55 crore in the corresponding period last year, according to its regulatory filing.
However, revenue from operations increased 43.85% year-on-year to ₹30,578.4 crore in Q2 FY27, against ₹21,255.86 crore in the year-ago quarter.
ITC's total expenses surged 69.6% to ₹25,462.44 crore during the quarter. Total consolidated income, including other income, rose 42.33% to ₹31,085.76 crore.
In its earnings statement, ITC said it recorded robust growth across all non-cigarette business segments.
The FMCG business delivered its fourth consecutive quarter of double-digit revenue growth, while its EBITDA margin expanded by 50 basis points year-on-year despite inflationary pressures.
The company also reported a strong recovery in its paper segment, while the agriculture business recorded healthy growth despite trade disruptions arising from tensions in West Asia.
Revenue from ITC's total FMCG business, which includes cigarettes, increased 51.58% to ₹23,455.47…