ITC has reported results for first quarter ended June 30, 2014.
The company’s net profit has surged 15.60% at Rs 2186.39 crore as compared to Rs 1891.33 crore for the quarter ended June 30, 2013. Its total income has increased by 22.55% to Rs 9482.84 crore for the quarter under review from Rs 7613.88 crore for the corresponding quarter of the previous year.
The Scheme of Arrangement between Wimco and the company became effective on June 27, 2014 on filing of the order of the High Court with the respective Registrar of Companies. The Scheme, with effect from April 01, 2013, provided for the demerger of the Non Engineering Business of Wimco into the Company. The results for the quarter ended June 30, 2014 reflect the effect of the Scheme, and consequently, the figures for the previous periods are not strictly comparable.
