ITC Ltd is up for a third straight session today. The stock is quoting at Rs 188.15, up 1.54% on the day as on 12:59 IST on the NSE. The benchmark NIFTY is down around 0.39% on the day, quoting at 12698.85. The Sensex is at 43370.31, down 0.51%. ITC Ltd has gained around 10.58% in last one month.

Meanwhile, Nifty FMCG index of which ITC Ltd is a constituent, has gained around 3.78% in last one month and is currently quoting at 30845.6, up 0.69% on the day. The volume in the stock stood at 290.18 lakh shares today, compared to the daily average of 274.69 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 188.35, up 1.59% on the day. ITC Ltd is down 25.88% in last one year as compared to a 7.25% jump in NIFTY and a 1.66% jump in the Nifty FMCG index.

The PE of the stock is 16.73 based on TTM earnings ending September 20.

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Net sales fell 3.81% to Rs 11,098.24 crore in Q2 September 2020 over Q2 September 2019. Profit before tax (PBT) declined 11% to Rs 4,274.32 crore during the period under review. EBITDA fell by 11% year on year to Rs 4,061 crore in Q2 September 2020 from Rs 4,562 crore in Q2 September 2019. Tax expense rose 33% YoY to Rs 1042 crore in Q2 September 2020. The result was announced after market hours yesterday, 6 November 2020.

ITC said The operating environment remained extremely challenging during the quarter with the unabated increase in daily Covid cases prompting several states to impose localised lockdowns. This impacted the recovery momentum, particularly in the months of July'20 and August'20, and posed significant challenges to sales operations. The situation continues to improve with the progressive easing of restrictions from September 2020.”

Total FMCG revenue rose 3.5% to Rs 8916 crore in Q2 FY21 over Q2 FY20. Revenue from sale of cigarettes stood at Rs 5121 crore (down 3.9% YoY) and revenue from FMCG-Others was at Rs 3795 crore (up 15.4% YoY).

The cigarettes business reported strong sequential recovery in volumes and revenue with progressive normalization of market operations.

Revenue from hotel business tumbled 80.8% year on year to Rs 82 crore in Q2 September 2020. Revenue from paperboards, paper & packaging business fell by 6.8% YoY to Rs 1,459 crore in Q2 September 2020.

The hotels business continues to remain adversely impacted due to restrictions on travel and tourism while closure of educational institutions across the country weighed on the performance of the education and stationery products business, the company said.

Revenue from agri business grew by 12.8% YoY to Rs 2985 crore in Q2 September 2020. The segment revenue was driven by trading opportunities in rice, mustard, coffee and higher wheat supplies for Aashirvaad atta.

Shares of ITC fell 0.49% at Rs 173.95 on Friday.

ITC is engaged in the marketing of fast-moving consumer goods (FMGC). The firm operates through four segments: FMCG; hotels; paperboards, paper and packaging, and agri business. ITC is the market leader in cigarettes in India.

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Net profit of ITC declined 18.23% to Rs 3368.17 crore in the quarter ended September 2020 as against Rs 4119.16 crore during the previous quarter ended September 2019. Sales rose 2.47% to Rs 13075.14 crore in the quarter ended September 2020 as against Rs 12759.44 crore during the previous quarter ended September 2019.

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ITC Ltd is up for a third straight session today. The stock is quoting at Rs 170.3, up 2.13% on the day as on 12:59 IST on the NSE. The benchmark NIFTY is up around 1.32% on the day, quoting at 11822.6. The Sensex is at 40310.03, up 1.39%. ITC Ltd has gained around 0.62% in last one month.

Meanwhile, Nifty FMCG index of which ITC Ltd is a constituent, has gained around 1.74% in last one month and is currently quoting at 29441.45, up 0.49% on the day. The volume in the stock stood at 140.19 lakh shares today, compared to the daily average of 248.67 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 170.4, up 2.04% on the day. ITC Ltd is down 34.69% in last one year as compared to a 0.99% slide in NIFTY and a 8.27% slide in the Nifty FMCG index.

The PE of the stock is 14.24 based on TTM earnings ending June 20.

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