ITC Q3 profit rises 17% to Rs 3,090 crore; beats estimates

Analysts on average had expected a profit of Rs 2,832 crore, according to Thomson Reuters Eikon data.

ITC Ltd, India’s biggest cigarette maker, posted a 16.8% rise in its third-quarter profit on Friday, helped by a one-time gain.

The company, which also makes consumer goods ranging from biscuits to skincare products, said its profit rose to Rs 3,090 crore ($484.53 million) in the quarter ended December 31, from Rs 2,647 crore a year ago.

Analysts on average had expected a profit of Rs 2,832 crore, according to Thomson Reuters Eikon data.

The company reported a gain of Rs 413 crore on account of entry tax in the state of Tamil Nadu that was written back in the quarter.

 

 

 

[“source=hindustantimes”]