ITC Shares Slide as Interim Dividend Ex-Date Approaches
11th Feb 2025
ITC Share Price and Dividend Details
FMCG conglomerate ITC's share price plunged over 1% on Tuesday's trading session as the record date - February 12- for its ₹6.50 per share interim dividend approaches. At 12:10 pm on February 11, the ITC stock was trading at ₹422.75 per share.
After its demerger from ITC Hotels, the company has declared its first interim dividend of ₹6.50 per share for FY2025, following the announcement of its Q3 results. The dividend will be paid between March 6 and March 8, 2025, to eligible shareholders. Before the demerger, the conglomerate declared two dividends in 2024— ₹7.50 in June and ₹6.25 in February. In comparison, the company distributed ₹15.50 per share in 2023 and ₹11.50 per share in 2022.
ITC Q3 FY25 Results Highlights
In Q3 FY2025, ITC recorded a 7.27% decline in its consolidated net profit, which stood at ₹5,013.16 crore for the December quarter, compared to ₹5,406.52 crore in the same period last year. However, the company's revenue from operations saw a 9.05% rise, reaching ₹20,349.96 crore in the December quarter, up from ₹18,660.37 crore in the corresponding period of the previous year.
Brokerage Firm's View
Brokerage firm Centrum Broking has retained its 'buy' rating on ITC with a target price of ₹515. The firm believes the legal industry has been able to recoup volumes from illegal cigarettes, and expects price hikes in the next 3-6 months due to higher raw material pressure. Centrum Broking expects the Cigarette segment to continue growing at a mid to high single-digit rate with stable margins, while the FMCG business is expected to grow at a high single-digit rate with an EBITDA margin of 11.5-12.5%.
FMCG conglomerate ITC's share price plunged over 1% on Tuesday's trading session as the record date - February 12- for its ₹6.50 per share interim dividend approaches. At 12:10 pm on February 11, the ITC stock was trading at ₹422.75 per share.
After its demerger from ITC Hotels, the company has declared its first interim dividend of ₹6.50 per share for FY2025, following the announcement of its Q3 results. The dividend will be paid between March 6 and March 8, 2025, to eligible shareholders. Before the demerger, the conglomerate declared two dividends in 2024— ₹7.50 in June and ₹6.25 in February. In comparison, the company distributed ₹15.50 per share in 2023 and ₹11.50 per share in 2022.
ITC Q3 FY25 Results Highlights
In Q3 FY2025, ITC recorded a 7.27% decline in its consolidated net profit, which stood at ₹5,013.16 crore for the December quarter, compared to ₹5,406.52 crore in the same period last year. However, the company's revenue from operations saw a 9.05% rise, reaching ₹20,349.96 crore in the December quarter, up from ₹18,660.37 crore in the corresponding period of the previous year.
Brokerage Firm's View
Brokerage firm Centrum Broking has retained its 'buy' rating on ITC with a target price of ₹515. The firm believes the legal industry has been able to recoup volumes from illegal cigarettes, and expects price hikes in the next 3-6 months due to higher raw material pressure. Centrum Broking expects the Cigarette segment to continue growing at a mid to high single-digit rate with stable margins, while the FMCG business is expected to grow at a high single-digit rate with an EBITDA margin of 11.5-12.5%.