ITC Q3 Earnings Today: With Cigarettes-to-FMCG conglomerate ITC all set to announce its fiscal third quarter earnings on Thursday (February 6), brokerage firms and analysts said that the company is expected to post a profit decline of around 3.4 per cent to Rs 5,150 crore, due to higher other income and low tax rate in the base quarter. It had posted a profit of Rs 4992.87 crore during the second quarter of the current fiscal year. However, the FMCG major is likely to report the highest revenue among all its listed peers. ITC will also declare its interim dividend today.
Earlier in January, ITC had demerged its hotel business as a standalone entity in a 1:10 ratio and the hotels business made its debut on the exchanges as a standalone entity. ITC continues to hold a 40 per cent stake in the new entity and the remaining 60 per cent is distributed to shareholders. On January 29, ITC Hotels had released its Q3 numbers with profit at Rs 0.74 crore and revenue was recorded at Rs 1.64 crore.
According to a CNBC TV18 poll, ITC is expected to post Q3 revenue at Rs 18,050 crore and net profit is estimated at Rs 5,135 crore.
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Earlier on January 24, ITC had, in a regulatory filing, announced that the company will release its Q3 numbers on February 6. “We write to advise that a Meeting of the Board of Directors of the Company has been convened for Thursday, 6th February, 2025, inter alia, to: (a) consider and approve the Unaudited Standalone and Consolidated Financial Results of the Company along with the Unaudited Segment-wise Revenue, Results, Assets and Liabilities for the Quarter and Nine Months ended 31st December, 2024; and (b) consider declaration of Interim Dividend for the financial year ending on 31st March, 2025,” ITC had said.
Nuvama said that ITC’s profit is expected to fall 11.4 per cent YoY to Rs 4,942 crore.
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