1. India’s ITC Ltd Q1 profit rises 7.4 per cent, misses estimates

India’s ITC Ltd Q1 profit rises 7.4 per cent, misses estimates

Cigarettes-to-biscuits maker ITC Ltd reported a 7.4 percent increase in quarterly profit, helped by higher sales from its cigarettes segment.

By: | Published: July 27, 2017 7:31 PM
itc ltd profit percent, itc ltd copany profits, thomson reuters data itc ltd revenue  Cigarettes-to-biscuits maker ITC Ltd reported a 7.4 percent increase in quarterly profit, helped by higher sales from its cigarettes segment. (Source: Reuters)

Cigarettes-to-biscuits maker ITC Ltd reported a 7.4 percent increase in quarterly profit, helped by higher sales from its cigarettes segment. Profit rose to 25.61 billion rupees ($399.47 million) in its first quarter ended June 30, from 23.85 billion rupees a year earlier, India’s biggest cigarettes maker said on Thursday.

Analysts on average had expected the company to post a profit of 25.81 billion rupees, according to Thomson Reuters data.Revenue from operations rose about 4 percent to 138 billion rupees, while revenue from its cigarettes segment grew 6.6 percent.($1 = 64.1100 Indian rupees)

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