PVR Q1 Net rises almost 4pc at Rs 44.46 cr

Ausiliatrice Cristiano
Luglio 27, 2017

Kolkata: ITC Ltd reported 7.4 per cent jump in net profit at Rs 2,560.5 crore for the first quarter ending June 30, 2017, while total income went up by 4.4 per cent at Rs 14,277.19 crore.

Its total income during the first quarter of current fiscal stood at Rs 653.03 crore, up 12.84 per cent as against Rs 578.68 crore reported in corresponding period a year ago, PVR said in a regulatory filing.

Box office revenue during the quarter increased by 11% to Rs343 crore. 65-70 screens in FY 17-18.

However, despite "the extremely challenging operating environment" ITC sustained its leadership position in the industry through focus on delivering world-class products, continuous innovation & value addition, it claimed. Consolidated PAT for the quarter was Rs. 443 million as against Rs 432 million in the same period previous year, up by 3%. This segment also includes apparel, education and stationary products, personal care products, matches and agarbattis. Advertising revenues showed a stellar growth of 31% & increased to Rs 674 million as compared to Rs 515 million. "However, improvement in profitability was limited due to loss of revenue at certain properties on account of the ban on sale of liquor at outlets in close proximity to highways and gestation costs of the recently commissioned ITC Grand Bharat, Gurgaon".

The stock price of ITC, which announced earnings after market hours, closed at Rs 288.65, down 1.62 percent on the BSE. ITC said the business was impacted by subdued demand in FMCG and cigarette industry, lower offtake due to destocking of FMCG and pharma products, unabsorbed capacity in domestic industry and cheap imports from China and ASEAN countries.

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