ITC slips after Q3 results

ITC fell 3.37% to Rs 358.70 at 12:57 IST on BSE after net profit rose 10.46% to Rs 2635 crore on 4.46% growth in total income to Rs 9524.58 crore in Q3 December 2014 over Q3 December 2013.

The Q3 result was announced during market hours today, 21 January 2015.

Meanwhile, the S&P BSE Sensex was up 73.08 points or 0.25% at 28,857.75.

On BSE, so far 6.11 lakh shares were traded in the counter as against average daily volume of 4.44 lakh shares in the past one quarter.

The stock was volatile. The stock rose as much as 0.64% at the day's high of Rs 373.60 so far during the day. The stock fell as much as 3.6% at the day's low of Rs 357.80 so far during the day. The stock had hit a 52-week low of Rs 311.10 on 20 February 2014.

The stock had underperformed the market over the past one month till 20 January 2015, advancing 0.46% compared with Sensex's 5.16% rise. The scrip had also underperformed the market in past one quarter, surging 5.42% as against Sensex's 8.91% rise.

The large-cap company has equity capital of Rs 799.54 crore. Face value per share is Re 1.

The scheme of arrangement between Wimco and the company became effective on 27 June 2014 on filing of the order of the High Court with the respective Registrar of Companies. The Scheme, with effect from 1 April 2013, provided for the demerger of the Non Engineering Business of Wimco Into the company. The results for the quarters Q2 September 2014 and Q3 December 2014 and for the nine months ended 31 December 2014 reflect the effect of the Scheme, and consequently, the figures for the previous periods are not strictly comparable, ITC said.

ITC has a diversified presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.

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