ITC Fourth-Quarter Profit Up Marginally, Misses Estimates

Diversified consumer company ITC Ltd posted a 1 percent growth in March-quarter profit as its biggest segment, cigarettes, witnessed growth in sales.

Profit rose marginally to Rs 2,669 crore in the fourth quarter ended March 31, from Rs 2,647 crore a year earlier, the conglomerate said on Friday.

Analysts on average expected the company to post a profit of Rs 2,706 crore, according to Thomson Reuters data.

ITC, India's biggest cigarette maker, said revenue from cigarettes rose about 8 percent to Rs 8,955 crore.

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