ITC fourth-quarter profit up marginally, misses estimates

REUTERS - Diversified consumer company ITC Ltd posted a 1 percent growth in March-quarter profit as its biggest segment, cigarettes, witnessed growth in sales.

Profit rose marginally to 26.69 billion rupees ($413.93 million) in the fourth quarter ended March 31, from 26.47 billion rupees a year earlier, the conglomerate said on Friday. https://bsmedia.business-standard.combit.ly/2rnMf4i

Analysts on average expected the company to post a profit of 27.06 billion rupees, according to Thomson Reuters data.

ITC, India's biggest cigarette maker, said revenue from cigarettes rose about 8 percent to 89.55 billion rupees.

($1 = 64.4800 Indian rupees)

(Reporting by Tanvi Mehta in Bengaluru; Editing by Gopakumar Warrier)