ITC rose 1.23 per cent to Rs 354 after the standalone net profit rose 20.8 per cent to Rs 4,466 crore on a 27.4 per cent increase in net revenue to Rs 15,976 crore in the second quarter of FY23 over the second quarter of FY22.

EBITDA improved 27.1 per cent to Rs 5,864 crore in the second quarter of FY23 from Rs 4,615 crore in the second quarter of FY22. PBT stood at Rs 5,939 crore in Q1FY23, hitting a high of 21.7 per cent from Rs 4,880 crore reported in Q1FY22. Total expenses stood at Rs 10687.60 crore in Q2FY23 rose 25.5 per cent compared to Rs 8517.39 crore in Q2FY22.

Total FMCG segment revenue increased 22 per cent yearly to Rs 11839 crore during the second quarter. In the FMCG segment, cigarette revenue rose by 23 per cent yearly to Rs 6954 crore. Hotel business revenue stood at Rs 536 crore (up 82 per cent year on year, agri-business revenue was at Rs 3997 crore, up 44 per cent year on year and paperboards, paper & packaging revenues were at Rs 2288 crore, up 25 per cent year on year in Q2FY23. Meanwhile, the Revenue of ITC Infotech Rs 821 crore in Q2FY23 rose 9.61 per cent yearly, and EBITDA stood at Rs 135 crore, falling at 36.02 per cent year on year.

“The anticipated moderation in inflation going forward, normal monsoons in most parts of the country and proactive interventions by the government and RBI augur well for sustained recovery and a pick-up in consumption expenditure in the second half of the year,” the company said. The company is a diversified conglomerate with businesses which span fast-moving consumer goods, paperboards, packaging, hotels, agribusiness and information technology.