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21st July 2016
ITC Ltd on Thursday reported that its
standalone net profit rose 10% to Rs2,384.67 crore for the quarter ended June
30, 2016 as compared to Rs2,166.09 crore for the corresponding quarter last
year.
Total income from operations stood at
Rs13,253.06 crore in the quarter under review as compared to Rs12,232.65 crore
in the quarter year ago.
In the April-June quarter, revenue from
cigarettes was Rs8,230.60 crore, up 6.4% from Rs7,733.43 crore in the same
quarter last year.
Total revenue from its hotels, paperboards,
paper and packaging and agri business stood at Rs4,404.34 crore in the first
quarter ended June as compared to Rs3,957.21 crore last year.
Company's 105th annual general meeting will
be held on Friday in the city and its Chairman Yogesh Chander Deveshwar will
address shareholders for the last time.
Deveshwar would complete his present term on
February 4, 2017. This AGM will be his last as CEO of the company, it said in a
statement earlier.
The company had said when Deveshwar assumed
office as Executive Chairman in January 1996, the company was confronted with
formidable challenges.
The
cigarette maker to FMCG conglomerate said early diversification efforts had
either failed or were languishing, the businesses were not competitive enough
in an emerging liberalised economic environment, and the company's reputation
was at a low ebb. The Total Investment &
Insurance Solutions
At the
time Deveshwar took over as Executive Chairman, the revenue of the company was
less than Rs5,200 crore and Profit Before Tax (PBT) was Rs452 crore. The Total Investment & Insurance Solutions
"The company's eevenue has presently
grown tenfold to Rs51,582 crores and PBT has grown 33 times to Rs14,958 crores.
Total shareholder returns grew at a compound annual rate of 23.3% during this
period," it said earlier.
The
Total Investment & Insurance Solutions
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