FMCG-to-hospitality major ITC Ltd on Friday reported an 18.23 percent fall in its consolidated net profit at Rs 3,413.44 crore.
During the same period last year, the company had reported a consolidated net profit of Rs 4,174.69 crore.
Its revenue from operations, however, rose 2.18 percent to Rs 13,147.81 crore during the period under review, the company said in a regulatory filing.
The company reported a total income of Rs 13,730.06 crore during the second quarter of FY21, 1.72 percent higher on a year-on-year basis.
In a statement, the company said that the operating environment remained extremely challenging during the quarter with the unabated increase in daily COVID cases prompting several states to impose localised lockdowns.
It impacted the recovery momentum, particularly in the months of July and August, and posed significant challenges to sales operations, the statement said, adding that the situation continues to improve with the progressive easing of restrictions from September.