Shares of ITC today rose by 3 per cent, adding Rs 10,872 crore to its market valuation, after the company reported a 12.13 per cent increase in standalone net profit for the fourth quarter of 2016-17. The stock gained 2.99 per cent to settle at Rs 308.65 on the BSE. During the day, it jumped 4.57 per cent to Rs 313.40 — its 52-week high. At NSE, shares of the company moved up by 3 per cent to close at Rs 309.10. The company’s market valuation surged Rs 10,871.98 crore to Rs 3,74,928.98 crore.
On the volume front, 26.22 lakh shares of the company were traded on the BSE and over 2 crore shares changed hands at the NSE during the day. ITC today reported a 12.13 per cent increase in standalone net profit at Rs 2,669.47 crore for the March quarter, driven by revenue growth in agri commodities, branded packaged foods and personal care product businesses.
The company had posted a net profit of Rs 2,380.68 crore for the January-March quarter of the last fiscal, ITC said in a BSE filing. ITC’s net sales during the period under review were up 6.15 per cent at Rs 15,008.82 crore, as against Rs 14,138.78 crore for the corresponding quarter last fiscal.