ITC share price gains ahead of Q4 earnings today

Shares of ITC Limited – a cigarette-to-hotel conglomerate – were trading near a 52-week high level ahead of March quarter earnings for the last fiscal on Thursday. The FMCG major is expected to report double-digit percentage growth in profit, while revenue is seen in the mid-single digit.

The stock jumped more than 1 per cent at the market open to touch the day’s high level of Rs 432.50 per share – this is near a 52-week high of Rs 433.45 apiece, touched last week on May 8, 2023. As the session progressed, ITC shares grew around 0.5 per cent to Rs 429.65 apiece on the BSE at around 10:30 AM today.

ITC Q4 results expectations

The Yippee noodles maker’s profit after tax (PAT) or net profit is expected to rise 16 per cent year-on-year (YoY) to Rs 4,850 crore against Rs 4,191 crore in the year-ago period, Zee Business research analysts said.

According to Zee Business research analsyts, ITC will log a 5 per cent YoY growth in standalone revenue to Rs 16,361 crore during the March quarter of the last fiscal against Rs 15,531 crore in the same quarter a year ago.

While the EBITDA or earnings before interest, tax, depreciation, and amortisation of ITC may come at Rs 6,234 crore, which translates to a growth of 19 per cent YoY and margins are expected to come in at 38 per cent against 34 per cent in the corresponding quarter of fiscal 2021-22.

The cigarette volumes of the company are estimated to grow 13-14 per cent while its FMCG segment is expected to see a growth of 15-17 per cent, according to Zee Business research analysts.

ITC shares historical performance

The blockbuster stock of 2022 – ITC rose around 61 per cent in the last one year against over a 12 per cent surge in the Nifty50.

Year-to-date, the counter grew almost 30 per cent as compared to the flat Nifty50 index during the same period.