FMCG major, ITC reported a marginal growth of 3.64% in net profit for the quarter ended Mar. 31, 2015. Net profit rose to Rs 23.61 billion as compared to Rs 22.78 billion in the same period last year. Analysts on average had predicted net profit to come at Rs 25.07 billion.
 
During the quarter, net revenues from operations was almost flat at Rs 92.93 billion, up 0.59% from Rs 92.39 billion in the same period last year.

Commenting on the performance, the company said, 'The muted growth in revenue and profits during the quarter reflects, inter alia, the continuing impact of the steep hike in taxation on cigarettes, sluggish demand conditions in the FMCG industry, start-up costs of the Juices category, lack of trading opportunities in agri‐commodities and costs relating to rationalization of safety matches manufacturing operations.'

Business Segment Performance:
Cigarette business sales stood at Rs 42.11 billion, up 3.23% from a year ago period. Non-Cigarette FMCG sales stood at Rs 25.66 billion, up 10.88% from the same quarter last year.

Meanwhile, hotels division sales stood at Rs 3.46 billion, up 8.08% from a year ago period. Agri business sales stood at Rs 14.27 billion, down 28.75% from the same quarter last year. Paperboards, paper & packaging division sales stood at Rs 12.02 billion, down 4.65% from a year ago period.

Dividend:
The directors recommended a dividend of Rs 6.25 a share for the year ended Mar. 31, 2015. Total cash outflow in this regard will be Rs 60.30 billion including dividend distribution tax of Rs 10.20 billion, it said.

Shares of the company gained Rs 1.1, or 0.34%, to settle at Rs 328.45. The total volume of shares traded was 2,198,572 at the BSE (Friday).