The ITC Stocks surged 4.71% on Friday to reach its 52-week high of Rs 268.75 per share on the expectation of healthy earnings. The shares have risen 17.23% in the last one month and 28.90% in the last seven weeks since 24th Feb. The market cap of the ITC rose to Rs 3.30 lakh crore on NSE.
ITC is the cigarette industry leader with a market share of around 78 percent and the second-largest FMCG company in India and offers snacks, frozen snacks, beverages, staples, and convenience foods. It has also a presence in the paperboards, paper, packaging vertical, hotels segment, and agri-based businesses.
For Q4FY22, Motilal Oswal Financial Services expects ITC’s net sales to increase by 4.1 percent Y-o-Y (down 12.7 percent Q-o-Q) to Rs 13,842.1 crore. PAT is expected to see up 8.7% YoY to Rs 4,076.4 cr. EBITDA is likely to rise by 12.4 percent Y-o-Y (down 1.4 percent Q-o-Q) to Rs 5,029.2 crore.
In the Q3 FY21–22 ending December’21, ITC reported a 15 percent increase in consolidated net profit to Rs 4,118.8 crore, on the back of robust demand across business verticals. The company had posted a consolidated net profit of Rs 3,587.2 crore in the corresponding period last fiscal, ITC Ltd said in the regulatory filing.
ITC Q4 2022 Earnings is expected to be released by May 30, 2022.
