ITC on Thursday reported a 11.5% year-on-year drop in net profit to ₹3,662.85 crore net profit for the quarter ended on 31 December, 2020. The cigarette-to-hotels major posted a net profit of ₹4,141.93 crore for the corresponding quarter last year. Total revenue from the services and products rose to ₹12,491 crore in the December quarter from ₹11,912 crore a year ago. Total expenses increased 11.2% to ₹9,765.56 crore in the December quarter against ₹8,779.1 crore in the same period a year ago. The revenue from agri business rose by 19.3 per cent at ₹2,694 crore compared with ₹crore 2,258 crore during the same period a year.

Source: Mint February 11, 2021 14:55 UTC