NEW DELHI: Shares of ITC today rose by over 2 per cent after the company reported 7.37 per cent rise in
standalone net profit for the first quarter ended June 30.
The stock after making a positive opening further gained 2.16 per cent to Rs 294.90 on BSE. At NSE, shares of the company went up by 2.14 per cent to Rs 294.75.
Diversified conglomerate ITC yesterday reported 7.37 per cent rise in standalone net profit to Rs 2,560.50 crore for the first quarter ended June 30, 2017, driven mainly by revenue growth from FMCG and cigarettes business. The company had posted a net profit of Rs 2,384.67 crore for April-June quarter a year ago, ITC said in a BSE filing.
ITC's net sales during the period under review was up 4.29 per cent to Rs 13,722.21 crore, as against Rs 13,156.68 crore in the corresponding quarter of the previous fiscal.