ITC: Cigarette business contributed 40% to total revenue..!

 ITC Ltd, India's biggest cigarette maker, posted  a 3.85% rise in December-quarter profit, boosted by higher cigarette sales. Profit came in at Rs. 3,209 crore for the three months ended December 31, 2018, compared with Rs. 3,090 crore a year ago. Profit was largely driven by other income that increased 30% YoY to Rs 836.4 crore in Q3.

ITC's Cigarette business, which contributed over 40% to total revenue, increased 9.6 % to Rs 5,074 crore in Q3FY19 with its EBIT (earnings before interest and tax) rising 8.8 % YoY but margin contracted to 70.1 % against 70.6 % in same period last year.

 EBITDA (earnings before interest, tax, depreciation and amortisation) grew by 11.2% to Rs 4,325.8 crore YoY, but margin dipped to 38.5 % against 39.8 % year-ago that was also below the CNBC-TV18 poll estimates of 40 % due to higher expenses. Revenue from operations in Q3 grew by 15 % year-on-year to Rs 11,227.66 crore, driven by growth across segments.

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