ITC Q3 Results 2026: Profit at ₹5,089 Crore as FMCG and Cigarettes Drive Growth
ITC reported steady earnings in the December quarter, supported by strong cigarette performance and continued expansion in the FMCG business.
ITC Q3 results 2026 showed stable profit performance and steady revenue growth across cigarettes, FMCG, agri, and paperboards businesses. The company reported standalone net profit from continuing operations of ₹5,088.83 crore for the quarter ended December 31, 2025, with total income of ₹20,431.36 crore.
ITC Q3 FY26 — Key Live Data
| Metric | Q3 FY26 | Q3 FY25 | Change |
|---|---|---|---|
| Revenue from Operations | ₹19,359.46 crore | ₹18,290.24 crore | +5.8% |
| Total Income | ₹20,431.36 crore | ₹19,376.86 crore | +5.4% |
| Profit (Continuing Ops) | ₹5,088.83 crore | ₹5,421.36 crore | Stable |
| EBITDA (approx. PBT) | ₹6,958.88 crore | ₹6,545.61 crore | +6.3% |
| EPS | ₹4.06 | ₹4.34 | Stable |
Source: ITC Q3 FY26 standalone financial results.
Table of Contents
- Key Highlights
- Financial Performance
- Operational Drivers
- Segment Trends
- Capital-Flow Impact
- Valuation Context
- Key Risks
- Outlook
Key Highlights
- Revenue from operations rose to ₹19,359.46 crore.
- Total income stood at ₹20,431.36 crore.
- Profit from continuing operations was ₹5,088.83 crore.
- Profit before tax stood at ₹6,685.05 crore.
- Interim dividend declared at ₹6.50 per share.
ITC Q3 Results 2026: Financial Performance
ITC reported revenue from operations of ₹19,359.46 crore in Q3 FY26, compared with ₹18,290.24 crore in the same quarter last year, reflecting moderate growth across core businesses.
Total income for the quarter stood at ₹20,431.36 crore, supported by other income of ₹1,071.90 crore.
Total expenses increased to ₹13,472.48 crore, reflecting higher raw material costs, excise duty, and other operating expenses.
Profit before exceptional items and tax stood at ₹6,958.88 crore, compared with ₹6,545.61 crore a year earlier.
After exceptional items, profit before tax was ₹6,685.05 crore. Tax expenses of ₹1,596.22 crore resulted in net profit of ₹5,088.83 crore for continuing operations.
| Metric | Q3 FY26 | Q3 FY25 |
|---|---|---|
| Revenue from Operations | ₹19,359.46 crore | ₹18,290.24 crore |
| Total Income | ₹20,431.36 crore | ₹19,376.86 crore |
| Profit Before Tax | ₹6,685.05 crore | ₹7,073.57 crore |
| Net Profit (Continuing Ops) | ₹5,088.83 crore | ₹5,421.36 crore |
ITC Q3 Results 2026: Operational Drivers
The company’s performance in Q3 FY26 was driven primarily by its cigarette segment, which remains the largest contributor to revenue and profits.
Other key operational drivers included:
- Growth in packaged foods and personal care categories
- Stable demand in agri commodities
- Steady performance in paperboards and packaging
Employee expenses rose to ₹902.54 crore, while other expenses stood at ₹2,717.39 crore, reflecting continued investments in brand building across FMCG categories.
ITC Q3 Results 2026: Segment Trends
Segment data shows that FMCG continues to be the largest revenue contributor.
Segment Revenue (Q3 FY26)
| Segment | Revenue |
|---|---|
| FMCG – Cigarettes | ₹8,790.76 crore |
| FMCG – Others | ₹6,019.69 crore |
| Total FMCG | ₹14,810.45 crore |
| Agri Business | ₹3,560.27 crore |
| Paperboards & Packaging | ₹2,202.41 crore |
Source: ITC segment results.
The cigarette segment remained the dominant profit contributor, while FMCG-Others continued to see investments in brand building and product expansion.
Capital-Flow Impact
ITC remains a core institutional holding in the consumption and FMCG space, with strong dividend yields and stable cash flows.
The company’s earnings trajectory is closely tracked by:
- Domestic mutual funds
- Insurance companies
- Foreign institutional investors
Stable cigarette cash flows and gradual FMCG expansion continue to drive institutional allocation into the stock during earnings cycles.
Valuation Context
ITC is typically valued based on dividend yield, cigarette volume growth, and FMCG margin expansion.
The company’s strong operating cash flows and diversified business structure support its positioning as a defensive consumption stock.
Key Risks
- Regulatory or tax changes in cigarettes
- Input cost volatility in agri and paper segments
- Slower-than-expected FMCG margin expansion
- Competitive pressure in packaged foods
Outlook
ITC’s outlook remains supported by strong cigarette cash flows and continued investments in FMCG categories.
Key growth drivers ahead include:
- Expansion of packaged foods and personal care segments
- Stable performance in agri and paper businesses
- Margin improvement in FMCG-Others
The company’s diversified structure and strong balance sheet position it as a core institutional consumption stock.
Related Consumption Coverage
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