MUMBAI:
ITC is likely to report muted earnings for the quarter ended March on Tuesday, in-line with its lackluster stock performance in the calendar year so far. Analysts expect the cigarette maker to report net profit of Rs 3,729 crore, down nearly 2 per cent year-on-year.
The company’s net sales in the reporting quarter may see a growth of 12.2 per cent on-year to Rs 12,169.7 crore aided by the low base of the year-ago quarter. Analysts also expect the company’s cigarette volumes to rise 2-9 per cent in the quarter.
In the year-ago quarter, ITC’s cigarette volumes plummeted 10 per cent due to a stringent national lockdown that severely affected out-of-home consumption.