ITC Posts Profit Of 2,955 Crore Rupees, Beats Analysts' Estimates

ITC Ltd, the country's biggest cigarette maker, posted a near 12 per cent rise in September-quarter profit on Friday, boosted by higher cigarette revenue. Profit was Rs 2,955 crore ($403.03 million) in the quarter ended September 30, compared with Rs 2,640 crore a year earlier, the maker of Sunfeast biscuits and Classmate stationery said. Analysts on average had expected a profit of Rs 2,934 crore, according to Refinitiv Eikon data.

Revenue from cigarettes rose more than 10 per cent to Rs 5,026 crore in the second quarter, with revenue from operations rising 15.45 per cent to Rs 11,273 crore.