ITC profit rises in line with forecast, up 5.6%; cigarettes hit by high tax

Revenue from the cigarette business, which accounts for 47% of the top line, stood at Rs 4,554.21 crore

In line with Street estimate, ITC posted a 5.6 per cent increase in its net profit at Rs 2,639.84 crore for the quarter ended September 30, 2017, as against Rs 2,500.03 crore in the corresponding quarter of 2016-17.

The company's total income during the second quarter of the current financial year stood at Rs 10,258.13 crore, versus Rs 14,091.96 crore in the year-ago period. 

ITC said its total income from operations during the quarter under review is not comparable with the previous period due to the introduction of goods and services tax (GST) from July 1.

"After introduction of GST,