ITC Q4 Results: Cigarette revenue growth at 7.7%; Dividend of ₹7.5 per share declared

ITC | Wholly-owned subsidiary ITC Infotech India entered into a share purchase agreement to acquire 100% shares in Blazeclan Technologies Pvt. Ltd. The acquisition will be done for a cash consideration of ₹485 crore and is expected to be closed in the next six to eight weeks. Blazeclan is a partner with AWS, Snowflake and has expertise in cloud migration and digital services. This acquisition is expected to augment ITC Infotech’s capabilities to service its customers in a multi-cloud and hybrid cloud environment.

FMCG major ITC Ltd.'s cigarette business reported revenue growth of 7.7% for the January-March quarter, compared to the same period last year. The CNBC-TV18 poll had projected ITC's cigarette business to report revenue growth between 4% to 5%.

Earnings Before Interest and Tax (EBIT) for the cigarette business grew at 5%, also higher than the CNBC-TV18 poll of 3% to 4%.

The hotels-to-foods conglomerate reported a net profit of ₹5,020.2 crore, which was marginally lower than the CNBC-TV18 poll of ₹5,115 crore.

Revenue for the quarter stood at ₹16,579 crore, which was marginally lower than the estimate of ₹16,992 crore. On a year-on-year basis, ITC's revenue grew by 1.1%.

ITC's board has also declared a final dividend of ₹7.5 per share for financial yer 2024.

Shares of ITC have recovered from the day's low, currently trading 0.7% higher at ₹442.95.