ITC first-quarter profit rises 7.4 per cent, misses estimates

Revenue from operations rose about 4 per cent to 138 billion rupees.
A man talks on his mobile phone as he walks past an ITC office building in Kolkata | Reuters
A man talks on his mobile phone as he walks past an ITC office building in Kolkata | 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.

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