MUMBAI (Reuters) - Shares of India's largest cigarette maker ITC ended down 4.5 percent on Thursday after its sales rose 10 percent during the quarter ended June 30, lagging forecasts.
The company posted net sales of 73.4 billion rupees in the first quarter of the current fiscal year beginning April from 66.5 billion rupees in the same period a year ago.
Analysts had expected sales of 78.7 billion rupees, according to Thomson Reuters I/B/E/S.
Earlier in the day the company posted a 18 percent jump in net profit to 18.9 billion rupees. (Reporting by Nandita Bose; Editing by Rafael Nam)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app