ITC's Q2 FY26 revenue rises 7.4% YoY

ITC Limited reported a steady second quarter for FY26, with consolidated revenue from operations at Rs 23,129 crore, reflecting a 7.4% increase from Rs 21,536 crore in Q2 FY25 and marginally higher than Rs 23,050 crore in Q1 FY26. 

Total income for the quarter rose to Rs 23,611 crore, up from Rs 21,962 crore a year ago, supported by sustained growth in the FMCG and paperboard segments. 

Total expenses stood at Rs 15,016 crore, lower sequentially from Rs 15,415 crore in Q1 FY26 and down from Rs 16,752 crore in the corresponding quarter last year, indicating continued cost efficiency and operational discipline.

Profit before tax came in at Rs 6,887 crore, compared to Rs 5,660 crore in Q2 FY25, while net profit for the quarter was Rs 4,927 crore, up 6% year-on-year from Rs 4,641 crore. On a sequential basis, profits remained broadly stable.

Half-Year performance

For the six months ended September 30, 2025, ITC reported revenue from operations of Rs 46,179 crore, compared to Rs 43,242 crore in the same period last year, registering a 6.8% increase. 

Total income during H1 FY26 stood at Rs 47,076 crore, as against Rs 43,985 crore in H1 FY25. 

Total expenses were Rs 30,633 crore, rising moderately from Rs 28,633 crore a year ago. 

Profit before tax for the half year reached Rs 13,866 crore, up from Rs 11,457 crore, while net profit stood at Rs 9,764 crore, a 7.7% increase over Rs 9,066 crore recorded in H1 FY25.

Segmental performance

The company’s FMCG business continued to be the mainstay of its topline. Revenue from FMCG–Cigarettes rose 6% year-on-year to Rs 9,414 crore, supported by stable consumer demand and pricing, though it softened marginally sequentially. 

The FMCG–Others segment grew 8.5% to Rs 6,059 crore, driven by steady traction across packaged foods, personal care, and stationery categories. 

The agri business reported a revenue of Rs 4,038 crore, down 30.9% year-on-year, due to timing differences in crop procurement and a high base effect. 

The paperboards, paper and packaging business maintained stability with Rs 2,220 crore in revenue, up 5% from the year-ago period, supported by higher value-added packaging demand. The others segment increased to Rs 1,245 crore, marking a 20.6% rise from last year.

Total segment revenue for the quarter stood at Rs 22,976 crore compared to Rs 21,536 crore a year ago, reflecting modest overall growth driven by the core FMCG segments. For the half-year ended September 2025, total segment revenue was Rs 51,354 crore, up 7.6% from Rs 47,740 crore in H1 FY25.