Sharekhan says the company’s adjusted profit could increase by 3 percent and revenue by 8 percent in the third quarter.
ITC Q3 Preview | It is the second largest FMCG company in the country in terms of market cap ITC Today i.e. 03 February is going to publish the results of its third quarter. The company is expected to perform well in the third quarter on the back of strong business portfolio and good business from the hotel division. Also, the company’s cigarette volume in the December quarter of 2021 could fall to pre-covid levels on a lower basis than last year.
The stock has risen nearly 10 percent in the last few trading days. Cigarette makers have been keen not to raise taxes on tobacco and tobacco products in the central budget. This includes ITCO. However, it is also worth noting that the stock has lost about 2 percent since the beginning of October 2021.
Most analysts surveyed by MoneyControl believe that in the third quarter ending December 31, 2021, the company’s revenue could grow 6-8 percent year-on-year, with profits flat at 5 percent a year. . Is.
On the other hand, the increase in the number of cigarettes per year is expected to be between 8-10 percent. At the same time, the company’s FMCG sector could grow by 9-12 percent on an annual basis. The cigarette business contributes about 40 percent to the company’s revenue and the FMCG business contributes about 28 percent.
HDFC results were better than expected, find out the investment opinions of leading brokerages on this stock
Sharekhan says the company’s adjusted profit could increase by 3 percent and revenue by 8 percent in the third quarter. On the other hand, the company’s cigarette business is expected to grow by 9-10 per cent year-on-year and the volume of cigarette business could reach 100 per cent of the pre-coveted level, where the non-cigarette FMCG business is expected. The growth rate is 9 percent per year.