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.
Digital
Content India 2026 opens with a copro pitch, a spice evangelist and a £10,000 prize for Indian storytelling
Dish TV and C21Media’s three-day summit puts seven ambitious projects before an international jury, and two walk away with serious development money
MUMBAI: India’s content industry gathered in Mumbai this March for Content India 2026, a three-day summit organised by Dish TV in partnership with C21Media, and it wasted no time making a statement. The event opened with a Copro Pitch that put seven scripted and unscripted television concepts before an international panel of judges, and by the end of it, two projects had walked away with £10,000 each in marketing prize money from C21Media to support development and international promotion.
The jury, comprising Frank Spotnitz, Fiona Campbell, Rashmi Bajpai, Bal Samra and Rachel Glaister, evaluated a shortlist that ranged from a dark Mumbai comedy-drama about mental health (Dirty Minds, created by Sundar Aaron) to a Delhi coming-of-age mystery (Djinn Patrol, by Neha Sharma and Kilian Irwin), a techno-thriller about a teenage gaming prodigy (Kanpur X Satori, by Suchita Bhatia), an investigative crime drama blending mythology and modern thriller (The Age of Kali, by Shivani Bhatija), a documentary on India’s spice heritage (The Masala Quest, hosted by Sarina Kamini), a documentary on competitive gaming (Respawn: India’s Esports Revolution, by George Mangala Thomas and Sangram Mawari), and a reality-horror competition merging gaming and immersive fear (Scary Goose, by Samar Iqbal).
The session was hosted by Mayank Shekhar.
The two winners were Djinn Patrol, backed by Miura Kite, formerly of Participant Media and known for Chinatown and Keep Sweet: Pray & Obey, with Jaya Entertainment, producers of Real Kashmir Football Club, also attached; and The Masala Quest, created and hosted by Sarina Kamini, an Indian-Australian cook, author and self-described “spice evangelist.”
The summit also unveiled the Content India Trends Report, whose findings made for bracing reading. Daoud Jackson, senior analyst at OMDIA, set the tone: “By 2030, online video in India will nearly double the revenue of traditional TV, becoming the main driver of growth.” He noted that in 2025, India produced a quarter of all YouTube videos globally, overtaking the United States, while Indians collectively spend 117 years daily on YouTube and 72 years on Instagram. Traditional subscription TV is declining as free TV and connected TV gain ground, forcing broadcasters to innovate. “AI-generated content is just 2 per cent of engagement,” Jackson added, “highlighting the dominance of high-quality human content. The key for Indian media companies is scaling while monetising effectively from day one.”
Hannah Walsh, principal analyst at Ampere Analysis, added hard numbers to the picture. India produced over 24,000 titles in January 2026 alone, with 19,000 available internationally. The country now accounts for 12 per cent of Asia-Pacific content spend, up from 8 per cent in 2021, outpacing both Japan and China. Key exporters include JioStar, Zee Entertainment, Sony India, Amazon and Netflix, delivering over 7,500 Indian-produced titles abroad each year. The top importing markets are Saudi Arabia, the UAE, Egypt, the United States and the Philippines. Scripted content dominates globally at 88 per cent, with crime dramas and children’s and family titles performing particularly strongly.
Manoj Dobhal, chief executive and executive director of Dish TV India, framed the summit’s ambition squarely. “Stories don’t need translation. They need a platform, discovery, and reach, local or global,” he said. “India produces more movies than any country, our streaming platforms compete globally, and our tech and creators win international awards. Yet fragmentation slows growth. Producers, platforms, and tech move in different lanes. We need shared spaces, collaboration, and an ecosystem where ideas, technology, and people meet. That is why we built Content India.”
The data, the pitches and the prize money all pointed to the same conclusion: India is not waiting for the world to discover its stories. It is building the infrastructure to sell them.
