The cigarettes-to-hotels conglomerate ITC saw 68 executives join the crorepati club in FY24, marking a 24.11 per cent increase from FY23. According to the company’s latest annual report, the total number of executives earning an annual remuneration exceeding Rs 1 crore was 350 in FY24. The total includes employees who received compensation amounting to Rs…
ITC Ltd reported a decline of 1.3 per cent in its net profit on a year-on-year (YoY) basis in its fourth quarter (Q4) earnings on Thursday. The cigarette-to-soap maker logged a net profit of Rs 5,020.20 crore for the March quarter in the 2023-24 financial year (FY24) against a net profit of Rs 5,086.6 crore…
The two key equity benchmark, Sensex and Nifty, on Wednesday erased their opening gains and trading flat amid volatility. At 9.50 am, the BSE Sensex was marginally up 32 points, 73,700. On the other hand, the NSE Nifty50 was trading at 22,318, down 18 points. On the 30-share Sensex platform, ITC, Nestle, ICICI Bank, Wipro,…
The cumulative market valuation of six out of the top ten most valued companies decreased by Rs 71,414 crore last week. Amongst the firms, Life Insurance Corporation of India (LIC) stood as the biggest laggard in the week, followed by Tata Consultancy Services (TCS), ITC, Bharti Airtel, Hindustan Unilever, and Reliance Industries. On the other…
The two key equity benchmarks, Sensex and Nifty, on Thursday dropped sharply after the Reserve Bank of India’s (RBI’s) call to keep repo rate unchanged at 6.5 per cent for the sixth consecutive time. The S&P BSE Sensex plunged 724 points to close at 71,428. On the other hand, the NSE Nifty50 settled at 21,718,…
Fast-moving consumer goods (FMCG) firms logged single-digit volume growth with better margins during the October-December quarter in the current fiscal year. The growth was facilitated by improving commodity inflation, although the operating environment continued to pose challenges. Some firms also registered a drop in their financial results after they shared the benefits of improvement in…
Diversified entity ITC Ltd on Monday clocked a 6.51 per cent rise in consolidated net profit to Rs 5,400.51 crore for the December 2023 quarter (Q3). The company had posted a consolidated net profit of Rs 5,070.09 crore in the year-ago period, ITC said in a regulatory filing. ITC’s gross revenue from the sale of…
