ITC Q4 Results: Profit Declines by 1.06% Year Over Year Live

ITC, one of India’s leading conglomerates, recently announced its Q4 results for the financial year 2024. The results, declared on 23 May, 2024, revealed a mixed performance for the company. While the topline saw a modest increase of 2.04%, the profit margin experienced a slight decline of 1.06% year-on-year.

Comparing the Q4 results to the previous quarter, ITC witnessed a decrease in revenue by 0.2% and a more significant drop in profit by 4.02%. The Selling, general & administrative expenses also showed a decline of 1.79% quarter-on-quarter but increased by 7.98% year-on-year.

Despite these fluctuations, the operating income of the company saw a positive growth of 2.05% quarter-on-quarter, although it decreased by 1.17% year-on-year. The earnings per share (EPS) for Q4 stood at ₹4.1, marking a marginal decrease of 0.03% year-on-year.

In terms of market performance, ITC delivered a 2.29% return in the last week, a 0.23% return in the last 6 months, and a -4.49% year-to-date return. The company currently boasts a market capitalization of ₹551013.2 Cr, with a 52-week high/low of ₹499.7 and ₹399.35 respectively.

Analysts covering ITC have given varying ratings, with 3 analysts holding a Hold rating, 18 analysts giving a Buy rating, and 14 analysts recommending a Strong Buy. As of 24 May, 2024, the consensus recommendation for ITC was to Strong Buy.

Investors and stakeholders are advised to stay updated on quarterly results with the company’s results calendar to make informed decisions.