ITC's net profit rise 19.5% to Rs. 1,928 crore

ITC's net profit rise 19.5% to Rs. 1,928 croreIndia's biggest cigarette maker, ITC has said that its net profit has risen 19.5 per cent to Rs. 1,928 crore during the fourth quarter of the financial year 2012-2013.

The company, which has a strong presence in the FMCG market and hostel industry in India, had recorded a net profit of Rs. 1,614 crore during the fourth quarter of the financial year 2011-2012. The company's cigarettes business has been growing strong over the years and some analysts believe that the company will be able to maintain 16-18 per cent operating growth in business.

The company's FMCG business has reported a profit for first time and its revenues grew 26 per cent. The company's hotel business recorded a 10 per cent rise to Rs. 320 crore but the margins continued to fall in the sector and the company is finding it difficult to improve earnings.

Shares of the company rose on Monday after most market analysts reacted positively to the company's fourth quarter results. The shares of the company were trading 0.6 per cent higher at Rs. 336.65 this afternoon after touching Rs. 342.20 in the morning trade today.