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A 10-cigarette Gold Flake Kings pack and 20-cigarette Gold Flake Lights pack will now cost Rs 75. A 20-cigarette Classic pack cigarettes will now cost Rs 150 from Rs 136 earlier
Diversified business group ITC Ltd on Monday said it had increased prices of Gold Flake and Classic brands by a tenth, the second increase in as many months.
A 10-cigarette Gold Flake Kings pack and 20-cigarette Gold Flake Lights pack will now cost Rs 75, both up from Rs 68.
Likewise, a Classic pack of 20 cigarettes will now cost Rs 150 from Rs 136 earlier. A company spokesperson confirmed the rise in prices. The packs with new prices are already in the market.
The company, which had raised prices of the Gold Flake brand seven per cent in July, had earlier said a steep rise in excise duty on cigarettes hit sales.
ITC, the market leader in cigarettes in the country, sells brands including India Kings, Classic Gold Flake and Navy Cut.
The company's cigarettes business grew seven per cent to Rs 3,537.4 crore during the first quarter ended June 30.
It produces cigarettes at plants in Bangalore, Munger (Bihar), Saharanpur (Uttar Pradesh), Kolkata and Pune.
Besides fast-moving consumer goods, ITC has interests in hotels, paperboards and packaging, tobacco products and information technology.
Shares of ITC Ltd on Monday closed at Rs 319.40 apiece on the BSE at the end of day's trade, up 3.75 per cent from the previous close.
