ITC Q1 net profit rises 10.07% at Rs 28.19 billion, beats estimates

Beating street estimates, diversified conglomerate ITC Ltd posted a 10.07 per cent jump in its net profit at Rs 28.19 billion for the quarter ended June 30, 2018 with its total revenue, inclusive of other income, registered at Rs 112.78 billion.

The net profit during the similar quarter of the last fiscal year stood at Rs 25.61 billion while the revenue was registered at Rs. 142.77 billion.

However, in a statement, the company said that on account of the Indian Account Standard calculations, and the resultant restructuring of indirect taxes in the GST regime, the gross revenue and excise duty are not