ITC Q3 Preview: Net profit to grow 11%, cigarette volume growth pegged at 10%

ITC’s hotels business is expected to be the outperformer and sales from FMCG business is expected to grow 20 percent YoY

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Cigarette-to-soap maker ITC is likely to post a decent set of numbers for the December 2022 ended quarter, with standalone revenue growing 11 percent year-to-year to Rs 4614 crore. The company will report its Q3 earnings on February 3, after market hours.

According to an average of estimates of brokerages polled by Moneycontrol, the company’s revenue will rise 4.3 percent on-year to Rs 16,547 crore. Sequentially, topline and bottomline are expected to grow 2.5 percent and 3.3 percent.

ITC’s mainstay business of cigarettes, which has been in the limelight for hike in NCCD (National Calamity Contingent Duty) announced in Union Budget 2023, will likely report 10-11 percent YoY growth in volumes and 12 percent growth in sales, as per Kotak Institutional Equities.