ITC Result Analysis - Q3 FY 2019

 



ITC Ltd. declared its Q3FY19 result on 23rd January, 2019. The company posted a net profit of Rs. 3209 crore on a revenue of Rs. 11431 Crore. Even though the revenue grew by 14.86% over Q3 FY18, the net profit grew just by 4%. Operating profit margin came down to 39% from 44% for the comparable quarters. The company completely missed the street estimates on all three factors: Revenue, PAT and Profit Margin.

    A side-by-side camparision of Q3 FY18 and Q3 FY19 numbers show that the expenditure during Q3 FY19 was considerably higer over Q3 FY18 due to
  • Cost of materials consumed
  • Purchases of stock-in-trade
  • Other expenses

EBIDTA for FMCG - Cigarettes also dropped from 70.6% in Q3 FY18 to 70.1% in Q3 FY18.

EBIDTA for FMCG - Others grew from 1.64% in Q3 FY18 to 2.40% in Q3 FY18.

EPS for Q3FY19 was Rs. 2.62 whereas it was Rs. 2.54 for Q3FY18.

One positive is that the PEG is at 4.5 (as on 1/26/2019) and the P/E ratio stands at 28.49.

Quarterly result Q3FY19 ITC Ltd. -Q3 FY19

Segmentwise breakup of revenue and Profit Before Tax ITC Ltd - Segmentwise breakup Q3 FY19

 

 

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