ITC says Q4 profit rises 19.5%, meets estimates

The country's largest cigarette maker, ITC Ltd, posted a 19.5% jump in quarterly net profit on Friday, meeting market expectations. ITC said net profit rose to 19.28 billion rupees ($352 million) for the quarter ended March 31.

The country's largest cigarette maker, ITC Ltd, posted a 19.5% jump in quarterly net profit on Friday, meeting market expectations.

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ITC, which makes four out of every five cigarettes sold in the country, said net profit rose to 19.28 billion rupees ($352 million) for the quarter ended March 31, from 16.14 billion rupees a year earlier.

Analysts on average had expected earnings of 19.08 billion rupees, according to Thomson Reuters I/B/E/S.