Income Statement

Earnings Waterfall
ITC Ltd

Revenue
851.1B INR
Cost of Revenue
-406.3B INR
Gross Profit
444.8B INR
Operating Expenses
-197.7B INR
Operating Income
247.1B INR
Other Expenses
103.2B INR
Net Income
350.3B INR

Income Statement
ITC Ltd

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Income Statement
Currency: INR
Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025 Sep-2025
Revenue
Interest Expense
100
0
0
0
284
0
0
0
252
0
0
0
253
0
0
0
300
0
0
0
243
0
0
0
324
0
0
Revenue
498 621
N/A
506 382
+2%
513 213
+1%
520 450
+1%
513 935
-1%
492 140
-4%
494 944
+1%
503 114
+2%
531 551
+6%
569 175
+7%
586 141
+3%
628 554
+7%
652 050
+4%
707 955
+9%
745 591
+5%
752 140
+1%
765 182
+2%
753 265
-2%
759 885
+1%
764 523
+1%
738 914
-3%
782 306
+6%
812 425
+4%
821 079
+1%
816 128
-1%
861 376
+6%
851 115
-1%
Gross Profit
Cost of Revenue
(201 337)
(189 666)
(191 713)
(193 862)
(205 324)
(198 501)
(212 446)
(228 392)
(250 237)
(261 143)
(268 419)
(296 671)
(321 425)
(340 148)
(357 432)
(348 478)
(360 553)
(327 185)
(329 945)
(332 898)
(344 256)
(340 380)
(361 638)
(371 801)
(399 785)
(414 271)
(406 328)
Gross Profit
297 285
N/A
316 716
+7%
321 500
+2%
326 588
+2%
308 611
-6%
293 640
-5%
282 499
-4%
274 723
-3%
281 315
+2%
308 031
+9%
317 721
+3%
331 882
+4%
330 625
0%
367 806
+11%
388 158
+6%
403 661
+4%
404 629
+0%
426 080
+5%
429 940
+1%
431 625
+0%
394 658
-9%
441 926
+12%
450 787
+2%
449 279
0%
416 343
-7%
447 105
+7%
444 788
-1%
Operating Income
Operating Expenses
(126 136)
(143 251)
(144 546)
(146 725)
(131 891)
(137 810)
(130 967)
(124 874)
(127 104)
(139 431)
(143 126)
(149 321)
(141 800)
(162 453)
(170 797)
(175 405)
(165 884)
(181 634)
(183 449)
(187 267)
(157 842)
(197 324)
(203 783)
(203 322)
(174 412)
(200 224)
(197 711)
Selling, General & Administrative
(101 455)
(41 723)
(42 604)
(43 308)
(102 897)
(43 218)
(43 563)
(44 146)
(100 077)
(45 304)
(46 786)
(47 672)
(113 059)
(50 895)
(53 468)
(55 614)
(134 238)
(58 477)
(58 795)
(60 192)
(129 532)
(63 252)
(64 500)
(64 542)
(140 446)
(64 960)
(65 177)
Research & Development
(572)
0
0
0
(480)
0
0
0
(460)
0
0
0
(365)
0
0
0
(484)
0
0
0
(457)
0
0
0
0
0
0
Depreciation & Amortization
(13 966)
(14 554)
(15 219)
(16 024)
(16 449)
(16 849)
(16 737)
(16 503)
(16 373)
(16 407)
(16 578)
(16 739)
(17 234)
(17 564)
(17 971)
(18 146)
(17 991)
(18 134)
(18 040)
(18 164)
(15 181)
(18 725)
(19 398)
(18 964)
(16 463)
(17 703)
(16 848)
Other Operating Expenses
(10 144)
(86 975)
(86 724)
(87 394)
(12 066)
(77 744)
(70 668)
(64 226)
(10 195)
(77 719)
(79 761)
(84 909)
(11 143)
(93 993)
(99 357)
(101 644)
(13 172)
(105 024)
(106 614)
(108 911)
(12 673)
(115 347)
(119 885)
(119 816)
(17 502)
(117 561)
(115 686)
Operating Income
171 148
N/A
173 465
+1%
176 954
+2%
179 863
+2%
176 720
-2%
155 830
-12%
151 532
-3%
149 849
-1%
154 210
+3%
168 601
+9%
174 596
+4%
182 562
+5%
188 825
+3%
205 354
+9%
217 362
+6%
228 257
+5%
238 745
+5%
244 445
+2%
246 490
+1%
244 358
-1%
236 816
-3%
244 602
+3%
247 004
+1%
245 957
0%
241 931
-2%
246 881
+2%
247 077
+0%
Pre-Tax Income
Interest Income Expense
20 697
(383)
(310)
(378)
24 905
(565)
(620)
(658)
24 572
(393)
(279)
(168)
16 849
(127)
(67)
(41)
18 355
49
48
(38)
25 134
(216)
(286)
(267)
24 644
1 258
1 804
Non-Reccuring Items
799
0
0
(1 321)
(1 320)
(1 321)
(1 321)
0
47
0
0
0
0
0
0
0
715
729
729
674
98
(106)
(118)
0
(79)
0
881
Gain/Loss on Disposition of Assets
(1 051)
0
0
0
(567)
0
0
0
(556)
0
0
0
559
0
0
0
(62)
0
0
0
623
0
0
0
1 388
0
0
Total Other Income
(95)
23 968
25 523
26 203
608
28 758
28 282
27 209
1 109
21 539
20 404
19 166
1 171
17 100
16 959
18 694
1 399
23 821
25 922
26 537
1 333
27 004
26 515
25 905
1 386
25 343
25 027
Pre-Tax Income
191 498
N/A
197 050
+3%
202 167
+3%
204 367
+1%
200 346
-2%
182 701
-9%
177 871
-3%
176 398
-1%
179 382
+2%
189 746
+6%
194 720
+3%
201 559
+4%
207 405
+3%
222 327
+7%
234 255
+5%
246 911
+5%
259 151
+5%
269 043
+4%
273 189
+2%
271 530
-1%
264 003
-3%
271 284
+3%
273 116
+1%
271 595
-1%
269 269
-1%
273 481
+2%
274 789
+0%
Net Income
Tax Provision
(63 139)
(64 797)
(62 133)
(58 550)
(54 638)
(45 777)
(45 064)
(44 909)
(45 553)
(48 104)
(49 549)
(50 991)
(52 373)
(56 017)
(58 790)
(61 911)
(64 384)
(67 100)
(68 419)
(63 497)
(62 095)
(63 897)
(64 829)
(69 277)
(68 905)
(69 853)
(69 839)
Income from Continuing Operations
128 359
132 251
140 032
145 816
145 707
136 925
132 808
131 490
133 829
141 643
145 173
150 569
155 031
166 310
175 465
185 001
194 767
201 944
204 770
208 032
201 908
207 387
208 287
202 319
200 365
203 629
204 950
Income to Minority Interest
(2 436)
(2 524)
(2 649)
(2 779)
(2 866)
(2 523)
(2 421)
(2 277)
(2 217)
(2 377)
(2 450)
(2 545)
(2 605)
(2 753)
(2 848)
(2 884)
(2 851)
(2 875)
(2 918)
(2 895)
(2 926)
(2 933)
(2 884)
(2 955)
(3 059)
(3 197)
(3 185)
Net Income (Common)
125 923
N/A
129 728
+3%
140 880
+9%
149 848
+6%
153 062
+2%
144 622
-6%
137 112
-5%
132 623
-3%
131 612
-1%
139 268
+6%
142 724
+2%
148 025
+4%
152 427
+3%
163 560
+7%
172 620
+6%
182 120
+6%
191 917
+5%
199 069
+4%
201 852
+1%
205 137
+2%
204 588
0%
204 454
0%
205 402
+0%
201 398
-2%
347 466
+73%
348 992
+0%
350 325
+0%
EPS (Diluted)
10.24
N/A
10.51
+3%
11.42
+9%
12.17
+7%
12.45
+2%
11.76
-6%
11.15
-5%
10.79
-3%
10.7
-1%
11.32
+6%
11.6
+2%
12.02
+4%
12.38
+3%
13.28
+7%
13.89
+5%
14.65
+5%
15.46
+6%
16
+3%
16.15
+1%
16.37
+1%
16.38
+0%
16.35
0%
16.42
+0%
16.07
-2%
27.75
+73%
27.81
+0%
27.95
+1%