'Despite a challenging FMCG environment, ITC Foods has grown at or above the industry rate.'
Through its cloud kitchens, ITC is building a portfolio of shorter shelf-life offerings and selling them through quick commerce platforms.
'While every year presents new challenges, it also provides opportunities for better growth and performance.'
Over the past year, Amul has undergone a transformative journey, evolving from a dairy-centric entity to a comprehensive foods company. Since 2022, PepsiCo India, too, has embarked on extensive launches in the food category. Not to be left behind, ITC, which has been introducing an average of 100 fast-moving consumer goods (FMCG) products across categories every year, has also launched a number of packaged food items.
Diversified entity ITC Ltd on Thursday reported a 22.66 per cent rise in consolidated net profit at Rs 5,225.02 crore in the fourth quarter ended March 2023, led by a strong growth momentum across operating segments. The company had posted a net profit of Rs 4,259.68 crore a year ago, ITC Ltd said in a regulatory filing. Its revenue from operations increased 7 per cent to Rs 18,799.18 crore in the period under review against Rs 17,754.02 crore in the year-ago period.
Delhi Police claimed to have smashed two betting rackets during Indian Premier League match between Chennai Super Kings and Kings XI Punjab with the arrest of three persons and recovery of cash and other articles.
A combo pack of ITC-owned Aashirvaad atta and spices including chili, coriander and turmeric powders will be available on Domino's app. The service will be available in Bengaluru first and will then be expanded to Noida, Mumbai, Kolkata, Chennai and Hyderabad.
ITC will also launch paneer shortly and is also working on cheese and Tetra Pak milk
After Patanjali, ITC and Coke, PepsiCo eyes value-added dairy products
Companies from Nestle and ITC to Hindustan Unilever and Patanjali have pledged to reduce use of unhealthy ingredients by five to 50 per cent
Unlike global majors like Lindt and Godiva no standalone Indian chocolate boutiques have expanded into a national chain yet. ITC plans to change that with its luxury chocolate brand Fabelle, says Avishek Rakshit.
The fast-growing, high-margin branded spices business is turning out to be an interesting growth opportunity, which to an extent was reflected in the Sunrise-ITC deal, with multiple parties from PE to strategic players joining the fray.
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