KOLKATA: Driven by its non-cigarette business, which now accounts for 51.2 per cent of the net turnover, ITC closed the second quarter of 2006-07 with a net turnover of Rs. 2,888 crore which took its first half turnover to Rs. 5,737 crore from Rs. 4,450 crore in the same period in 2005-06.

The post-tax profit during the quarter under review was Rs. 679.60 crore while that for the first half of 2006-07 rose by Rs. 201 crore over the same period in 2005-06 to touch Rs. 1,331 crore, says a company release.

During the period under review, King Maker Marketing of the U.S. became a subsidiary of the company, after ITC increased its shareholding in the trading outfit from 50 per cent to 50.98 per cent on October 25.

However, it was agri-business with a contribution of Rs. 868 crore revenue during the quarter that registered the highest growth of 87 per cent. ITC is now upgrading its green leaf threshing plant in Andhra Pradesh.

The e-choupal network touching 3.5 million farmers was increased to 6,400 installations. Hotels, another important business, increased its pre-tax profit by 110 per cent to Rs. 58 crore with segment revenues at Rs. 201 crore. Progress has been made in developing project plans and obtaining requisite approvals for a new property in Chennai, while the Bangalore super-deluxe project is progressing according to the plan.

Non-FMCG segment

Paperboards and speciality paper, ITC's third non-FMCG (fast moving consumer goods) segment, turned in a revenue of Rs. 522 crore against Rs. 469 crore in the same quarter in 2005-06.

In the FMCG segment, ITC's lifestyle retailing business, comprising readymade apparel, increased by 64 per cent with plans of increasing the retail footprint with the launch of eight new stores within nine months.

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