ITC Q2 Profit Falls 20% as Cigarette Segment Declines 27%
Higher taxes weighed on ITC's cigarette business, whose segment results declined 27% in the September quarter. Growth in non-cigarette FMCG was insufficient to offset the decline.
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04:41:16 PM UTC
SquawkNews
Diversified conglomerate ITC Ltd reported around 20 per cent year-on-year fall in its standalone net profit to ₹4,137.12 crore in the second quarter this fiscal, as its cigarette business profitability was hit as a result of higher taxation following the introduction of a new tax regime.The Kolkata…
Higher taxes weighed on ITC's cigarette business, with segment results declining 27.2 per cent in Q2 FY27, offsetting growth in its non-cigarette FMCG portfolioITC Ltd's non-cigarette FMCG business continued to expand at a double-digit pace in the September quarter, but the growth was not enough to…