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ITC net up 21.4% on packaged foods business
Cigarette-to-cookies maker ITC on Friday reported a 21.4% year-on-year rise in net profit at Rs 1,389.1 crore for the quarter ended December 31, 2010.
Updated on: Jan 21, 2011, 23:09:46 IST
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Cigarette-to-cookies maker ITC on Friday reported a 21.4% year-on-year rise in net profit at Rs 1,389.1 crore for the quarter ended December 31, 2010.
Growth was led by improved profitability in the branded packaged foods business. The group’s fast-moving consumer goods segment reported a 17.8% rise in net revenue at Rs 7,834.7 crore in the quarter.
“Overall performance hit by packaging inventory depletion,” the company said in a statement.
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