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ITC net rises 10.5% on tobacco biz growth

It managed higher profitability from its cigarette business, while loss from other FMCG segment narrowed down

Avishek Rakshit  |  Kolkata 

Beating Street estimates, ITC posted a 10.5 per cent increase in its net profit at Rs 2,500 crore for the quarter ended September 30,  on the back of higher profitability from its cigarette business and a narrowed-down from the non-cigarettes fast-moving consumer goods (FMCG) business.   In the corresponding quarter of FY16, the company had a net profit of Rs 2,262.5 crore on a standalone basis. For the period under review, ITC’s revenue from operations surged 7.8 per cent to Rs 13,491 crore against an earlier earning of Rs 12,512 crore.   Analysts had ...

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First Published: Thu, October 27 2016. 01:26 IST
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