#itcresults

ITC Q1 preview: Unlike its lacklustre stock performance at the bourses since the past one year, ITC is likely to post a strong show in the June 2021 quarter (Q1FY22) when it posts its results on Saturday, July 24, helped by a low base and recovery in cigarettes sales, say analysts. They eye a solid double-digit profit and revenue growth on a yearly basis, although the quarter-on-quarter (QoQ) performance could disappoint. During the quarter ended June, shareholders lost over 7 per cent of their wealth parked in ITC whereas Nifty50 offered 7 per cent returns during the same period. The company has been in the news recently on account of government's plans to offload its stake held via Specified Undertaking of the Unit Trust of India (SUUTI), higher dividend to the parent company (BAT) and the company suing a blogger for defamation. What now remains to be seen is if the stock can snap out of the range following Q1 results that it has been stuck in for a few months. That said, on the earnings front, analysts expect profit after tax (PAT) to grow between 21-53 per cent year-on-year (YoY) while revenue is seen in the range of Rs 22-35 per cent. In quarterly terms, the figures could slide in double-digits. Here's a look at what top brokerages are saying: ICICI Direct We expect ITC to witness a 29.3 per cent YoY revenue growth led by 33.7 per cent growth in the cigarettes segment, mainly on account of severe adverse sales in base quarter, ICICI Direct opined. Read the full article