According to the company, the success of the strategy of creating multiple drivers of growth leveraging the diverse competencies inherent in the various portfolios of businesses is evident from the growing share of non-cigarette business. Over the last six years the net turnover of non-cigarette business has grown at a compounded annual growth rate of 30% to Rs.4,707 crore in 2005-06.
The boom in the hospitality industry and high occupancies helped ITC’s hotel business to notch a 36% growth in revenues at Rs783 crore and 61% rise in operating profit at Rs.326 crore.