ITC registers 14.2 per cent growth

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The net turnover of ITC for the last quarter registered a growth of 14.2 per cent at Rs.3273 crores, which was mainly due to the robust scale up of Lifestyle Retailing, Foods and Stationary businesses coupled with healthy growth in the Hotels and Paperboards and Packaging segments. The non-cigarettes businesses in aggregate grew by 17 per cent.

The Company’s Pre-tax Profit for the quarter grew by 18.3 per cent touching Rs.1133 crores while Post-tax Profit at Rs.771 crores reflected a 13.4 per cent growth while the earnings per share for the quarter stood at Rs. 2.05 .

The Lifestyle Retailing business with a strong growth of 21 per cent during the quarter continued to increase its retail footprint with the addition of three new stores in strategically located malls. The distribution reach was further enhanced with the expansion of the ‘exclusive brand outlet’ network and increased presence in reputed ‘large format stores’ and key ‘multi-brand outlets’

The resounding success of the ‘Wills India Fashion Week’ (WIFW) held in September 2007 reinforced and strengthened the brand’s association with high fashion and premium imagery. In line with the objective of making designer wear accessible and relevant to the Wills Lifestyle consumers, the business has collaborated with some of the leading fashion designers of the country to position premium offerings under the ‘Wills Signature’ line.

This has met with excellent response from the fashion conscious consumers. Wills Lifestyle is now recognised as one of the few multi-category luxury lifestyle brands as per a survey by the US based Time magazine.

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