Multi-conglomerate ITC Ltd said on Tuesday that constraints at outlets and limited opening hours were causing problems, although there were no significant bottlenecks in the supply chain during closures imposed in the midst of the second wave of COVID-19.

It is leveraging its learnings while dealing with the pandemic to cover sales and distribution, supply chain operations as well as relevant product innovation and development, ITC said in its statement after the results.

The Kolkata-headquartered company said its cost-cutting measures remain firmly on the agenda.

“The company continues to monitor developments closely and is well equipped to respond with agility to changing circumstances while managing the risks associated with the dynamic environment,” he added.

After the second wave of COVID-19, several state governments and local authorities imposed restrictions, including lockdown, allowing a small 3-4 hour delay for stores and commerce to operate, in their efforts to curb the spread of the pandemic.

“While constraints related to the number of outlets and limited opening hours pose upstream challenges, there are no bottlenecks in the supply chain,” the company explains.

ITC has a diversified presence in consumer products, hotels, packaging, special cardboard and papers and the food industry.

For the fiscal year ended March 2021, ITC’s operating income was Rs 53,155.12 crore. According to the cabinet, the outbreak of the second wave of the pandemic caused “serious economic and social disruption”. “The company, in accordance with its ‘Putting India First’ credo, supports the country’s fight against the pandemic and has taken several initiatives in this regard,” he said.

Its main interventions include reducing bottlenecks in the transport of medical oxygen, supplying medical oxygen to public hospitals from its Bhadrachalam plant, importing oxygen concentrators and generators for donation, facilitation of the establishment of medical facilities to complement health infrastructure, provision of personal protective equipment kits and other infrastructural supports to hospitals in several states. The safety and well-being of its employees, partners and associates remain of paramount importance.

(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)



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