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ITC's Q2FY24 Financial Performance Review

Oct 19, 2023

By: BlinkX Research Team

In this financial performance review, we delve into the results of ITC for Q2FY24 and analyze key metrics, including revenue, expenses, net profit, and margin.

Particulars	Q2FY23	(Y-o-Y) % change	Q1FY24	(Q-o-Q) % change	Q2FY24
Total Income (₹crs.)	19062	4.57	19361	2.96	19934
Expenses (₹crs.)	12823	3.55	12421	6.9	13278
Net Profit (₹crs.)	4681	6.05	5189	-4.34	4964
Margin (%)	24.56	0.35	26.80	-1.90	24.90

REVENUE:
The company reported a total income of ₹19,934 crores for Q2FY24, with a 2.96% increase compared to the preceding quarter.

EXPENSES:
They also recorded expenses amounting to ₹13,278 crores in Q2FY24, with a 6.90% increase compared to the corresponding quarter of the FY23. Further, expenses showed a significant increase when compared to the previous quarter.

NET PROFIT:
The net profit of the Company for Q2FY24 was ₹4,964 crores, reflecting a -4.34% change compared to the preceding quarter.

MARGINS:
ITC's margin in Q2FY24 was 24.90%. This figure showed a -1.90% decrease compared to the previous quarter when the margin was 26.80%. Year-on-year, the margin increased by a meager 0.35% year-on-year.

In conclusion, ITC's financial performance in Q2FY24 reflects mixed results, with increased revenue but decreased net profit and margin. Further analysis is needed to understand the underlying trends.

Stay tuned for more detailed updates on ITC's financial performance in the coming quarters.