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ITC fourth-quarter profit rises 10 percent; beats estimates


(Reuters) - India's biggest cigarette maker ITC Ltd posted a better-than-expected quarterly profit on Wednesday, helped by a fall in excise 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 on average expected a net profit of 28.45 billion rupees, according to Thomson Reuters data.Revenue from operations fell 28 percent to 108.13 billion rupees, while excise duty paid was down about 94 ...

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