Cigarette major, ITC has announced its third quarter results. It has reported a 26.7% rise in its Q3 net profit of Rs 1,144.17 crore as against Rs 903.21 crore in the same quarter of previous year.
Net sales jumped 18.22% to Rs 4,531.85 crore from Rs 3,833.31 crore.
The numbers were above the street expectations; CNBC-TV18 poll expected net profit at Rs 1,082 crore and sales at Rs 4,425 crore.
Cigarette net revenues increased 17% to Rs 2,332 crore from Rs 1,993 crore and other FMCG net revenue went up 23.61% to Rs 890 crore from Rs 720 crore (YoY). Hotel operations net revenue rose marginally to Rs 248 crore versus Rs 247 crore (YoY).
At 12:37 hours IST, the share was trading at Rs 249.05, up Rs 4.90, or 2.01%. Its current market cap stood at Rs 94,522.57 crore.
Source: CNBC-TV18Courtesy moneycontrol.com
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