ITC net profit rises 18 percent, in line with forecast

MUMBAI (Reuters) - India's largest cigarette maker, ITC, posted an 18 percent jump in quarterly net profit on Thursday, in line with market expectations.

ITC, India's third most valuable company , said its net profit rose to 18.9 billion rupees for the quarter ended June 30, up from 16 billion rupees a year earlier.

Analysts had expected an 18 percent rise in earnings to 18.9 billion rupees, according to Thomson Reuters I/B/E/S. (Reporting by Nandita Bose; Editing by Himani Sarkar)