ITC Limited Second Quarter profits up 23.5%

Kolkata, Oct 30, 2010 (Calcutta Tube/IBNS): Business conglomerate ITC Limited on Friday posted a net profit of Rs 1,247 crores for the September quarter as against Rs 1,009 crore for the same period last year — an increase of about 23.5 percent.

The company also reported a jump of 16.3 percent in the net turnover figures for the second quarter of the fiscal year 2010-11.

The company credited the growth to its branded packaged foods, agro and cigarette businesses.

In a media release, ITC said that recovery in the hotels segment continued with revenues and profits growing by 20 percent and 26 percent respectively.

The  Kolkata-headquartered diversified business house also said that it experienced a robust growth in the non-cigarette Fast Moving Consumer Goods (FMCG) segment that experienced a 22.2 percent increase in segment revenues.

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