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FMCG companies reported muted performance in Q3FY24 due to sluggish rural demand and increased competitive intensity, affecting overall volume growth. Amid this environment, let's analyse between ITC and Hindustan Unilever (HUL), which stock has better long-term investment opportunities.
"While ITC trades at reasonable valuations (26x FY25e EPS), we expect the stock to remain range-bound, given near-term volume moderation (c.2% decline in 3Q), tax uncertainty until the final Budget and overhang from potential BAT stake sale," Maheshwari said.
ITC reported standalone net profit of Rs 5,572 crore for the December quarter, registering a growth of 11 percent from the year-ago period
ITC Q3 Results: Revenue from operations in the said quarter increased 2% year-on-year (YoY) to Rs 19,484 crore.
ITC Ltd on Monday reported 10.8% year-on-year growth in net profit at Rs 5,572 crore for the third quarter ending December 23, while gross revenue went up by 2.1% to Rs 17,483 crore. Both revenue and profit exceeded street estimates.