ITC share price slips over 1.6% post Q3 results; check key details you need to know

ITC shares dropped by over 1.6 moment after revealing a 7.27 decline in consolidated net profit to ₹ 5,013.16 crore for the December quarter on January 7 Friday.

During the same period the previous year the firm reported consolidated net profits of ₹5,406.52 crore.

During morning trading on BSE the company's shares reached ₹434 with a drop of 1.68%. The scrip experienced a 1.54% decline in value on NSE.

ITC stock reported ₹20,140.15 crore in gross sales from products and services for ITC Q3 which marks an 8.74% increase.

The total expenses for the quarter reached ITC share price today ₹14,413.66 crore which was an increase of 12.18%.

The revenue of ITC's total FMCG segment which encompasses cigarettes grew by 6.35% during the quarter reaching ₹14,372.53 crore. During the same September quarter last year the amount reached ₹13,513.43 crore.

The cigarette business generated ₹8,944.83 crore in revenue during the fiscal year quarter with a 7.83% increase. The revenue generated in that quarter of the previous fiscal year totaled ₹8,295.18 crore.

The FMCG-others segment of ITC generated ₹5,427.7 crore during the quarter under consideration, marking a 4% increase in revenue. The segment growth resulted from increased sales of atta and spices as well as snacks and frozen snacks along with dairy, premium personal wash and homecare products and agarbatti.

ITC stated that the combination of subdued realisation and rising domestic wood prices persists in restricting margins while the company combats these near-term challenges through strategic portfolio enhancement and export market development coupled with structural cost management interventions.

ITC reported "best-ever quarterly performance" while updating its demerged business performance which achieved strong revenue growth of 14.6% to ₹922 crore.

The conglomerate expanded its presence in frozen, chilled and ready-to-cook foods by acquiring ‘Prasuma’ and ‘Meatigo’ brands.