ITC Q4 Profit Rises 10% At Rs 2,933 Crore, Beats Estimates

Country's biggest cigarette maker ITC Ltd posted a better-than-expected quarterly profit on Wednesday, helped by a fall in excise duty.

Profit for the quarter ended March 31 came in at Rs 2,933 crore ($432.44 million) from Rs 2,669 crore reported last year, the company, which also makes biscuits and noodles under the Sunfeast brand, said.

Analysts on average expected a net profit of Rs 2,845 crore, according to Thomson Reuters data.

Revenue from operations fell 28 per cent to Rs 10,813 crore, while excise duty paid was down about 94 per cent.

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