ITC Q2 Results Preview: Profit seen falling nearly 30% YoY as cigarette tax hikes bite
60-Word AI Digest
ITC is expected to report a weak Q2, with brokerages forecasting an 8% decline in cigarette volumes and a drop of up to 29% in cigarette operating profit following tax hikes. Nuvama expects consolidated revenue to fall 3% YoY and EBITDA to decline 20%. Growth in FMCG and paper businesses could provide some cushion against the pressure.
Key Takeaways
- ITC is expected to report a weak Q2, with brokerages forecasting an 8% decline in cigarette volumes and a drop of up to 29% in cigarette operating profit following tax hikes.
- Nuvama expects consolidated revenue to fall 3% YoY and EBITDA to decline 20%.
- Growth in FMCG and paper businesses could provide some cushion against the pressure.
ITC is expected to report a weak Q2, with brokerages forecasting an 8% decline in cigarette volumes and a drop of up to 29% in cigarette operating profit following tax hikes. Nuvama expects consolidated revenue to fall 3% YoY and EBITDA to decline 20%. Growth in FMCG and paper businesses could provide some cushion against the pressure.
Original Publisher Attribution
This summary was curated from Economic Times.