Total income from operations up 5% at Rs 13,471 cr
Lower tax rate aided third quarter earnings; focus will now shift to the Budget
The company had posted a net profit of Rs 2,503.76 crore during the same period last fiscal
In past one month, the stock outperformed the market by surging 17% as compared to 5.5% rise in the Sensex.
To foray into fruits, vegetables and seafood segment next
Sales of these two brands have declined 20-30% after the price hike
Even as Street cheered price hikes, uncertainty on taxes under GST a key overhang for tobacco major
VST Industries, Golden Tobacco and ITC were up 3% to 11% on the BSE
In 2015-16, ITC's total FMCG business had a consolidated revenue of Rs 28,409.83 crore in which cigarettes contributed Rs 18,685.98 crore
The stock was up 3% to Rs 257 on BSE in intra-day trade, extending its 5% gain in past two trading sessions.
Golden Tobacco locked in upper circuit of 10% and Godfrey Phillips India up 6% on BSE in intra-day trade.
Tobacco firms have criticised the biennial event because proceedings have in the past not been open to the public
Health activists and the Indian government say bigger warnings create awareness about the harmful effects of tobacco consumption and help reduce consumption.
It managed higher profitability from its cigarette business, while loss from other FMCG segment narrowed down
Cigarette volumes grew by an estimated 3-4% in-line with estimates, and aided top-line in the quarter
The $11 billion tobacco industry protested against the rules for weeks and even resorted to a brief factory shut down that cost them more than $800 million
Analysts are expecting its tobacco business to grow 2-3 per cent in Q2
King Maker Marketing is engaged in the distribution of ITC manufactured cigarette products in the US market
The number three player in the foods business is beefing up its product portfolio and distribution muscle to take on Parle and Britannia
With its gourmet coffee Sunbean, the company is looking to expand its portfolio of premium brands