ITC's Q2 net profit up 21% at Rs 4,466 cr as cigarette, snacks sales rise

ITC's standalone revenue from operations rose 27% to Rs 17,160 crore in Q2FY23

Cigarettes-to-hotel conglomerate ITC Ltd posted a 21% rise in second-quarter profit that beat estimates, driven by demand for its cigarettes and snacks.

The maker of Classic cigarettes, Sunfeast biscuits and Bingo chips reported a profit of Rs 4,466 crore for the quarter ended Sept. 30, compared to a profit of Rs 3,697 crore a year earlier.

Analysts were expecting a profit of Rs 4,368 crore, according to Refinitiv IBES data.

ITC, which has a diversified presence in sectors like snacks, hotels, speciality papers and agri-business, owns many household names like Aashirvaad Atta and Classmate notebooks.

Revenue from operations rose 27%