NEW DELHI: Shares of ITC fell nearly 3% on Monday despite the company reporting 18.72% increase in standalone net profit for the fourth quarter ended 31 March, 2019.

The scrip declined 2.64% to close at 289.85 on the BSE. During the day, it dropped 3.25% to 288.

At the NSE, shares dipped 2.83% to close at 289.30.

The company on Monday reported 18.72% increase in standalone net profit at 3,481.9 crore for the fourth quarter ended 31 March, 2019.

It had posted a net profit of 2,932.71 crore in January-March quarter a year ago.

The company also announced elevation of its MD Sanjiv Puri as the Chairman and Managing Director of the company.

This story has been published from a wire agency feed without modifications to the text.

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