MAM
ITC posts strong half-year performance with 11 per cent revenue growth
Mumbai: In a period marked by economic challenges and shifting market dynamics, ITC Ltd has achieved a robust financial performance in the half-year ending September 2024, showcasing notable growth across its diverse business segments. With an 11.6 per cent year-on-year increase in gross revenue, ITC reached Rs 42,311 crore, up from Rs 37,910 crore in the same period last year, cementing its leadership in the FMCG sector and expanding its footprint in hospitality, agriculture, and packaging.
The FMCG segment, particularly cigarettes, remains a pivotal component of ITC’s portfolio. Cigarette revenue for the six-month period reached Rs 16,095 crore, an increase of 6.4 per cent from last year. Cigarette segment profit grew to Rs 10,497 crore, reflecting strategic cost efficiencies despite ongoing regulatory pressures. Meanwhile, FMCG–others, which includes packaged foods, personal care products, and education stationery, grew to Rs 11,085 crore, representing a 6 per cent increase from the prior year.
ITC’s hotels division experienced a significant recovery, with revenues rising to Rs 1,393 crore for the first half of FY2025—a 21 per cent increase compared to Rs 1,150 crore in the previous year. This rebound was fueled by higher occupancy rates and improved average room rates across ITC’s properties, especially in metropolitan cities.
The Agri-business segment saw a remarkable revenue increase of 33 per cent year-on-year, reaching Rs 12,754 crore. The growth reflects increased demand for ITC’s agricultural products, including wheat, rice, and coffee, as well as the company’s efforts in optimising logistics and market penetration. Paperboards, Paper & Packaging contributed Rs 4,091 crore to total revenues, highlighting ITC’s strength in sustainable packaging solutions, though growth was more modest at 2.5 per cent.
For the half-year, ITC’s profit before tax rose to Rs 13,305 crore, up by 8.6 per cent year-on-year. Net profit after tax stood at Rs 10,084 crore, marking a 7.8 per cent increase over the previous period’s Rs 9,283 crore. Operating profit margins were supported by cost containment and efficiency initiatives, alongside incremental gains in product mix.
Cash flow from operations remained solid, with ITC generating Rs 7,963 crore in cash from operations after tax. This strong cash flow enabled the company to continue investing in brand building, capital expenditure, and acquisitions, solidifying its multi-business structure.
In the latest quarter, ITC further diversified its portfolio by acquiring a 47.5 per cent stake in Sproutlife Foods Private Ltd. The acquisition underscores ITC’s commitment to expanding its footprint in health-focused foods, aligning with consumer trends towards health-conscious products. Additionally, ITC consolidated its holdings in EIH Limited, a prominent hospitality player, to 16.13 per cent, enhancing its position in the luxury hospitality market.
ITC continues to lead in sustainability, with a focus on renewable energy, waste reduction, and water conservation. In its paper and packaging segment, ITC has invested in biodegradable solutions that meet both commercial and environmental goals. The company’s sustainability initiatives not only enhance its corporate image but also align with global and domestic regulatory shifts towards environmental accountability.
While ITC’s recent performance highlights resilience and effective strategy execution, the company remains vigilant of regulatory changes, especially in the tobacco sector. ITC’s balanced portfolio and strong cash position provide a foundation to navigate potential challenges while investing in high-growth areas, such as digital and e-commerce.
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Zscaler, Airtel launch India AI Cyber Research Centre
New hub to boost cyber resilience and trusted AI use
NEW DELHI: As India’s digital engine roars ahead, so do the risks riding shotgun. In response, Zscaler, Inc. and Bharti Airtel have joined hands to launch the AI and Cyber Threat Research Center – India, a national initiative aimed at strengthening the country’s cyber defences and accelerating responsible AI adoption.
The centre is designed as a multi stakeholder platform that brings together industry, government and academia. Its mission is clear: protect critical sectors such as telecom, banking and energy, shield everyday digital users, and future proof India’s fast expanding online ecosystem.
India has long been a major innovation hub for Zscaler, with a substantial portion of its cyber research talent based here. With this new centre, that footprint evolves into a national collaboration engine. The idea is simple but ambitious, build in India, for India, and help power the country’s journey towards a secure and digitally self reliant future.
The timing is telling. India is building digital systems at population scale, not just enterprise scale. That scale has widened the attack surface dramatically. At the same time, cyber criminals and nation state actors are deploying AI to scan, probe and exploit vulnerabilities in minutes.
Zscaler’s research arm, ThreatLabz India, reports millions of infiltration attempts every month. These include espionage campaigns linked to regional geopolitical tensions, 1.2 million intrusion attempts from 20,000 sources targeting 58 Indian digital entities, and a rise in zero day exploit attempts across multiple industries.
In such an environment, perimeter based security models are struggling to keep pace. The new centre aims to push a shift towards secure by design systems and Zero Trust architecture.
Its strategy rests on four pillars: protect through real time intelligence, remediate by working directly with government agencies, facilitate adoption of AI driven security and Zero Trust frameworks, and build a stronger cybersecurity talent pipeline through specialised certifications.
As founding members, Zscaler and Airtel will combine global threat intelligence with local network visibility. Zscaler will deploy a dedicated India focused research team and draw insights from its Zero Trust Exchange platform, which processes over 500 billion daily transactions worldwide. Airtel, meanwhile, will contribute deep visibility into IoT and mobile traffic, helping detect suspicious activity faster and coordinate response across the ecosystem.
Bharti Airtel executive vice chairman Gopal Vittal, said the partnership extends Airtel’s commitment to safeguarding customers and the nation’s digital fabric. He added that the collaboration would address challenges unique to the Indian market and encourage secure and confident digital engagement.
Zscaler chief executive, chairman and founder Jay Chaudhry, said India’s digital ambition cannot be secured with legacy firewalls and VPNs. He noted that a modern Zero Trust architecture is essential for a hyper connected world and that the new centre would harness the scale of Zscaler’s global security cloud while empowering a new generation of Indian cyber defenders.
Additional members from critical public and private sectors are expected to join the initiative in the coming months, expanding its scope and deepening collaboration.
In a world where threats travel at machine speed, India’s answer is to think faster, collaborate wider and build smarter.
