ITC Q4 profit rises 12% on higher cigarette sales, shares up 3%

ITC, India’s biggest cigarette maker, said revenue from cigarettes rose about 5% to Rs 8,955 crore.

Diversified consumer company ITC Ltd posted a 12% growth in March-quarter profit as its biggest segment, cigarettes, witnessed growth in sales.

A man talks on his mobile phone as he walks past an ITC office building. (Reuters photo)

ITC shares ended 3% higher at Rs 308.65 in the firm Mumbai market whose benchmark Sensex gained 0.9% to close at a record 31,028.21.

Profit rose to Rs 2,669 crore in the fourth quarter ended March 31, from Rs 2,381 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 5% to Rs 8,955 crore.

(With inputs from Reuters)