ITC shares down by 3.5% on BSE post Q1 results

The non-cigarette FMCG business of ITC has made a loss of 18.93 crore in first quarter of current fiscal

ITC shares are trading 3.59% lower, at Rs 362.50 on BSE after the company announced its first quarter net profit at Rs 1,891.33 crore in FY14, meeting market estimates.

The non-cigarette FMCG business of ITC which recorded maiden profit in the final quarter of last fiscal has made a loss of 18.93 crore in the first quarter of current fiscal.  

The  FMCG to hospitality major has reported a net profit of Rs 1,891.33 crore in the first quarter of current fiscal as against Rs 1,602.14 crore in a year ago period.

Net sales was up by 10.32% at Rs 7,338.52 crore in the quarter under review.