itc limited shares hit 52 week high mark q1 earnings
ITC Limited stock gained 3% to a fresh 52-week high of more than ₹316. ITC net profit increases 34% to ₹4,390 Crore. ITC Revenue details are given in this article.
After the company reported a 34% increase in consolidated net profit year over year for the quarter ended June 30, 2022, shares of FMCG giant ITC increased by about 3% today despite a declining market.
Also Read: ITC Shares Price Hit 3-Year High, Stock Surges 7% in Just 2 Days
The ITC stock increased 2.96 percent to a new 52-week high of Rs 316.65 on the BSE, up from its previous closing of Rs 307.55. On August 1, 2022, earnings were released after market hours.
ITC stock was trading above the moving averages of the 5-day, 20-day, 50-day, 100-day, and 200-day periods. The large cap stock has increased 42.91 percent in 2022 after increasing 50.33 percent in a year.
10.96 lakh shares of the company were traded in total, resulting in a BSE turnover of Rs 34.26 crore.
On August 26, 2021, the stock’s price reached a 52-week low of Rs 204.50. The first quarter’s net profit was ₹ 4,390 crore, up 34% over the same quarter a year earlier as compared to the quarter that concluded on June 30, 2022.
Also Read: Top 5 NSE & BSE Listed Semiconductor Stocks In India For 2022
Chronologically, the net profit increased 4.6% from the March quarter’s Rs 4,196 crore (Q4FY22). Operating income for the first quarter was ₹ 19,831.27 crore, up 39% from the ₹ 14,240.76 crore earned during the same period the previous year.
Total revenue was ₹ 20,152 crore, up 37% from Rs 14,687.80 crore in the same quarter of the previous year.
Total expenses increased to ₹ 14,201.51 crore from ₹ 10,220.49 crore in the same period of the previous fiscal.
Also Read: Top 10 Most Expensive Stocks In India In 2022
Cigarettes reported revenue of ₹ 7,464.10 crore during the first quarter as opposed to Rs 5,802.67 crore during the same period last fiscal.
Nifty dropped 42 points to 17,297 while the Sensex opened 170 points lower at 57,945 in today’s early trade.
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