Consumer spending on ITC's goods increase 12% to Rs 32,500 cr in FY24

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Consumer spending on ITC's goods increase 12% to Rs 32,500 cr in FY24 - Business Standard

Quick Summary:

The FMCG portfolio of over 25 world-class Indian brands, largely built through an organic growth strategy leveraging institutional synergies in a relatively short period of time, "represents an annual consumer spend of nearly Rs 32,500 crore and reach over 250 million households in India", the company said in its annual report for 2023-24.

Diversified conglomerate ITC has said consumer spending on the company's FMCG products has increased 12 per cent to nearly Rs 32,500 crore in FY24 with over 25 crore households having access to its various brands.

This is 12 per cent higher than the numbers achieved in financial year 2022-23, when it had reported an annual consumer spend of nearly Rs 29,000 crore.