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ITC fourth-quarter profit rises 10 percent; beats estimates


(Reuters) - India's biggest maker Ltd posted a better-than-expected quarterly profit on Wednesday, helped by a fall in duty.

Profit for the quarter ended March 31 came in at 29.33 billion rupees ($432.44 million) from 26.69 billion rupees reported last year, the company, which also makes biscuits and noodles under the Sunfeast brand, said

Analysts on average expected a net profit of 28.45 billion rupees, according to data.

Revenue from operations fell 28 percent to 108.13 billion rupees, while duty paid was down about 94 percent.

($1 = 67.8250 Indian rupees)

(Reporting By Arnab Paul in Bengaluru; Editing by Biju Dwarakanath)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 16 2018. 14:09 IST