ITC Q1 net profit at Rs.782.87 Crores

ITC Ltd has announced the following Un-Audited results for the quarter ended June 30, 2007.

The Company has posted a profit after tax of Rs 7828.70 million for the quarter ended June 30, 2007 as compared to Rs 6522.80 million for the quarter ended June 30, 2006. Total Income has increased from Rs 29346.90 million for the quarter ended June 30, 2006 to Rs 34268.00 million for the quarter ended June 30, 2007.

The company has reported an Earnings Per Share (EPS) of Rs.2.08 for the quarter ended June 30, 2007 compared to Rs.1.74 during quarter ended June 30, 2006.

During the quarter Value Added Tax (VAT) (at 12.5% by most States), central sales tax as applicable and trade tax (at 33.5% in UP) have been imposed on cigarettes. Consequently the Company´s Cigarette sales have been subject to additional taxation amounting to Rs 3880 million (June 30, 2006 - Rs Nil). Gross Income stated above is net of this figure.

The stock closed on Friday at Rs.171.80, up by Rs.5.20 or 3.12%. The total traded quantity was 6182889 compared to 2 week average of 2078413. The stock hit an intraday high of Rs.180 and low of Rs.161.10.

Source : Equity Bulls

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