×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

ITC Q3 net profit up 16%

ITC Q3 net profit up 16%
Comment E-mail Print Share
First Published: Fri, Jan 18 2008. 12 34 PM IST
Updated: Fri, Jan 18 2008. 12 34 PM IST
Mumbai: India’s top tobacco firm, ITC Ltd , on Friday, 18 January, beat market forecasts with a 16% rise in quarterly net profit, helped by strong growth in its packaged foods and hotels businesses.
The Kolkata-based company said net profit rose to Rs831crore in its fiscal third quarter to end-December from Rs717 crore reported a year earlier, and compared with a Reuters poll forecast of Rs814 crore.
ITC, 31.7% owned by British American Tobacco Plc, also has interests in retail and information technology, and is expanding its portfolio of foods and personal care products to cut dependence on cigarettes.
ITC shares, valued at about $21 billion, gained 11% in the quarter, beating a 7.3% for the sector index, but lagging a 17% increase for the main share index
Comment E-mail Print Share
First Published: Fri, Jan 18 2008. 12 34 PM IST
More Topics: ITC | Tobacco | Q3 | Results | Corporate News |