ITC Ltd. reported a fall in internet revenue within the third quarter of the present monetary yr, even because it met road expectations. Standalone internet revenue fell practically 10% to Rs 5,089 crore within the October-December quarter, in comparison with Rs 5,638 crore within the year-ago interval, in keeping with a inventory alternate submitting on Thursday. Analysts consensus estimates compile by Bloomberg projected Rs 5,234 crore.
The corporate needed to make a one-time provision of Rs 273.83 crore with respect to extend in legal responsibility of gratuity and compensated absences, primarily arising resulting from change in definition of wages underneath the New Labour Codes.
ITC Q3 Outcomes (Standalone, YoY)
- Income up 6% at Rs 18,017 crore versus Rs 17,053 crore (Estimate: Rs 18,286 crore)
- EBITDA up 7.6% at Rs 6,271 crore versus Rs 5,828 crore (Estimate: Rs 6,273 crore)
- Margin at 34.8% versus 34.2% (Estimate: 34.3%)
- Revenue down 10% at Rs 5,089 crore versus Rs 5,638 crore (Estimate: Rs 5,234 crore)
The board accepted an interim dividend of Rs 6.5 per share.
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