Tag: weak market

ITC rallies 5% in weak market on strong Q4 results

Thursday, May 19, 2022
Shares of ITC hit an over three-year high of Rs 279.15, surging 5 percent on the BSE in a weak market after the company reported strong results with around 9 percent cigarette volume growth in the March quarter (Q4FY22). FMCG-cigarette-to-hotel major ITC on Wednesday reported a year-on-year consolidated net profit of Rs 4,196 crore, up 11.7 percent in the quarter ended 31 March 2022. The company had posted a net profit of Rs 3,755.47 crore in the year-ago period. The revenue from operations for the period came at Rs 17,754.02 crore, up 15 percent in the March quarter. The company had posted a revenue of Rs 15404.37 crore in the corresponding period. Its consolidated total income stood at Rs 18,252.64 crore as against Rs 10944.64 crore in the year-ago quarter, it added. Read more