ITC (ITC) Q3 25/26 earnings summary

Executive summary

• Consolidated gross revenue grew 7.1% year-over-year in Q3 FY26, with EBITDA up 8.2% and PAT (before exceptional items) up 9.9%.

• Standalone gross revenue increased 6.3% year-over-year, with EBITDA up 7.6% and PAT (before exceptional items) up 6.8%.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended 31st December 2025 were approved by the Board on 29th January 2026.

• Interim dividend of ₹6.50 per share declared, with record date set for 4th February 2026 and payment scheduled between 26th and 28th February 2026.

• Robust performance from group entities, notably ITC Infotech, Surya Nepal, and ITC Hotels.

Financial highlights

• Standalone total income for Q3 FY26 was ₹20,431.36 crore, up from ₹19,376.86 crore in Q3 FY25; consolidated total income was ₹22,280.68 crore, up from ₹20,945.82 crore year-over-year.

• Standalone net profit from continuing operations after tax for Q3 FY26 was ₹5,088.83 crore; consolidated net profit was ₹5,018.45 crore.

• FMCG Others segment delivered double-digit revenue growth of 11% year-over-year, with segment PBIT up 42% and EBITDA margin expanding by 145 bps.

• Cigarettes segment net revenue rose 7.9% year-over-year, with segment results up 5.1%.

• FoodTech business GMV doubled year-over-year to Rs. 150 cr YTD Dec'25.

Outlook and guidance

• Macro environment shows marginal improvement in global growth outlook, with India's FY26 real GDP growth estimate revised upwards to ~7.4%.

• Policy interventions and resilient macros support growth, but nominal GDP growth is decelerating.

• The company continues to focus on growth across FMCG, Paperboards, Packaging, and Agri Business segments, leveraging core competencies and brand investments.

• Key monitorables include urban demand recovery, private capex revival, and external account stability.