ITC's registers 17% Q1 profit, lags forecast

The tobacco-maker's net profit rose to Rs 6.52 billion from 5.58 billion reported in 2005.

India's biggest tobacco maker ITC Ltd posted a 17 per cent rise in quarterly profit on higher prices of cigarettes and fast growth of other consumer goods businesses, including hotels and foods.

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ITC, in which British American Tobacco Plc owns 31.7 per cent, said that net profit rose to Rs 6.52 billion from 5.58 billion reported in 2005.

The gain, however, lagged the forecast of a net profit of Rs 6.62 billion in a poll of 10 brokerages.