Diversified conglomerate ITC reported a consolidated net profit of Rs 5,343.41 crore for the first quarter of FY26 which is declined from Rs 19,807.88 crore–reported in the same quarter a year ago.

According to the company, revenue from operations for Q1FY26 stood at Rs 23,129.35 crore, a 13.5 per cent year-on-year growth from Rs 20,376.36 crore in the corresponding quarter last year. While total income, including other income, came at Rs 23,811.56 crore, while total expenses were reported at Rs 16,752.31 crore.

Core cigarettes’ business performance
ITC’s total FMCG segment, including cigarettes, generated Rs 15,354.30 crore in revenue during the June quarter.

The cigarette business, a core driver of ITC’s profitability, contributed Rs 9,553.86 crore. Other segments, which includes packaged foods, personal care, and home care, posted Rs 5,800.44 crore in revenue.

Stock ends over 1% higher on August 1
Shares of ITC ended 1.14 per cent higher at Rs 416.50 on the NSE on Friday (August 1), following the results announcement.

What should investors do now?
After this performance, analysts at global brokerages have maintained their positive outlook on ITC, though some revised or lowered their target prices, Here what CLSA, Nomura, and JPMorgan have suggested:

CLSA maintained an ‘accumulate’ rating with decreasing its share price target to Rs 489 from Rs 496. Whil Nomura reiterated its ‘buy’ call on the FMCG stock with cutting the share price target to Rs 525 from Rs 544.

Moreover, JPMorgan has maintained an ‘overweight’ rating on the ITC stock with a target price of Rs 475.