ITC posts 37% rise in net profit at Rs 4,175 crore, beats street estimates

ITC pointed to some measures as having helped it get over the muted demand in the markets

Despite a challenging business environment, particularly in the rural belt, cigarettes to hotels major ITC beat Street estimates to post a 37 per cent rise in net profit to Rs 4,175 crore for the quarter ended September 30, primarily via the government’s tax benefit measures.

The Street was expecting a rise of around 25 per cent. Total income rose 6.6 per cent to Rs 13,497 crore during the quarter, the second one (Q2) of this financial year. Gross profit rose 11.3 per cent to Rs 5,042 crore.

ITC pointed to some measures as having helped it get over the muted demand in