ITC Group’s forex earnings up 29 per cent at Rs 5,934 crore in FY21

New Delhi. ITC Group’s total foreign exchange earnings from exports in the financial year 2020-21 (FY2021) increased by 29.08 percent to Rs 5,934 crore. Giving this information in its new annual report, the group said that the foreign exchange earned by ITC Ltd increased by 31.2 per cent to Rs 4,600 crore. Its main part was the export of agricultural commodities.

“During the financial year 2020-21, the company and its subsidiaries earned Rs 5,934 crore through foreign exchange,” the report said. In FY20, ITC earned Rs 3,506 crore through foreign direct exchange and total earnings including its subsidiaries stood at Rs 4,597 crore.

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The report said that for the financial year ended March 31, 2021, ITC’s foreign exchange expenditure was Rs 1,664 crore. Of this, the company spent Rs 1,366 crore mainly on raw materials, parts and other goods while importing capital goods worth Rs 298 crore.

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According to the report, ITC Group’s foreign exchange earnings in the last ten years were around $7.3 billion, of which agricultural exports accounted for 56 per cent.

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