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ITC Ltd reported a marginal increase in consolidated profit for the third quarter of FY26, despite higher exceptional expenses linked to the implementation of new labour codes. The diversified conglomerate posted a net profit of INR 5,018.45 crore for the October-December period, slightly higher than the previous year. The company recorded exceptional losses of INR 354.58 crore, primarily due to higher liabilities for gratuity and compensated absences following changes in wage definitions notified by the government from November 2025. Excluding exceptional items, profit before tax showed steady growth, supported by improved operating performance across key businesses. Revenue growth was led by the FMCG segment, including cigarettes, along with stable performance in agri, paperboards and other segments. The board also announced an interim dividend for FY26.
ITC Ltd on Thursday reported a marginal year-on-year increase in its consolidated net profit for the third quarter of FY26, even as higher exceptional expenses arising from labour code implementation weighed on reported earnings. The Kolkata-headquartered company posted a net profit of INR 5,018.45 crore for the October-December quarter, compared with INR 5,013.18 crore in the corresponding period last year, according to a regulatory filing. Advertisement
The company recorded exceptional items amounting to a net loss of INR 354.58 crore during the quarter. This was largely attributed to an increase in liabilities related to gratuity and compensated absences, following a revision in the definition of wages after the government notified the new labour codes with effect from November 21, 2025. As a result, profit after tax growth remained muted despite stronger underlying operating performance.
Excluding exceptional items, ITC's profit before tax rose 8.76 per cent year-on-year to INR 7,108.66 crore in the December quarter of FY26. Revenue from operations increased 6.66 per cent to INR 21,706.64 crore, while total income, including other income, grew 6.37 per cent to INR 22,280.68 crore.
The FMCG business continued to be a key growth driver during the quarter. Revenue from the total FMCG segment, including cigarettes, rose 9.86 per cent to INR 15,790.66 crore. Cigarette business revenues grew 8.23 per cent to INR 9,681.08 crore, supported by sustained volume-led growth and improved performance in differentiated and premium offerings. The company indicated that strategic portfolio actions and market interventions were undertaken to reinforce market standing and counter illicit trade.
The FMCG Others segment reported a 12.56 per cent increase in revenue to INR 6,109.58 crore, driven by broad-based growth across categories such as staples, biscuits, noodles, dairy, personal care, homecare and agarbattis. The company also noted strong traction in its premium portfolio, NewGen channels and digital-first offerings.
The agri business posted a 6.42 per cent rise in revenue to INR 3,859.04 crore, while the paperboards, paper and packaging segment reported a modest growth of 2.71 per cent to INR 2,203.03 crore, despite the impact of planned maintenance shutdowns.
Separately, ITC's board declared an interim dividend of INR 6.50 per equity share for FY26. The company maintained that easing inflation, policy support and improving macroeconomic conditions could support growth momentum in the coming quarters.
Source - PTI
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