ITC posts 24 per cent growth in its turnover

Kolkata, Jan 31 (UNI) Driven by non-cigarette businesses, ITC posted a 24 per cent growth in its turnover at Rs 3,166 crore in the third quarter of this fiscal ended December 31, 2006.

A company release here today said non-Cigarette business, which grew by 31 per cent, now accounted for 52 per cent of ITC net turnover.

Significant growth was achieved in the non-cigarette FMCG business, higher agri-business and in hotel business, it said.

The company's pre-tax profit for the quarter recorded a growth of 26 per cent over last year and crossed the Rs1000 crore mark.

Post-tax profit at Rs 717.4 crore grew by 23.2 per cent, while Earnings Per Share for the quarter stood at Rs 1.91.

The release said sales of the company's branded packaged food recorded a 65 per cent growth, while the lifestyle retailing grew by 38 per cent, stationary business increased by 27 per cent , hotel business recorded a 28 per cent increase to touch Rs 282 crore, sales of value added paperboards 55 per cent and Agribusiness revenue recorded a growth of 20 per cent during the period as compared to the result during the corresponding period last year.

UNI