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Shares of ITC has dipped 4% to Rs 356 on NSE after reporting 10.5% year on year (yoy) growth in net profit at Rs 2,635 crore for the third quarter ended December 31, 2014 (Q3). The cigarette major had profit of Rs 2,385 crore in a year ago quarter.
Total net sales of the company during the quarter under review grew single digit by 2% at Rs 8,800 crore against Rs 8,623 crore in the corresponding quarter of previous year.
The growth in net sales during December quarter was lowest since 23 quarters. Earlier, in June 2009 quarter, ITC had recorded 6% yoy growth in net sales, CapitalinePlus data shows.
Meanwhile, cigarette sales remained flat at Rs 4,142 crore against Rs 4,116 crore in a year ago quarter. PBIT (profit before interest and tax) of cigarette business however, grew 8.9% at Rs 2,886 crore on yoy basis, ITC said in a statement.
The stock opened at Rs 373 and touched a low of Rs 354 on NSE so far. Till 1311 hours, a combined 10.53 million shares changed hands on the counter on NSE and BSE.
Total net sales of the company during the quarter under review grew single digit by 2% at Rs 8,800 crore against Rs 8,623 crore in the corresponding quarter of previous year.
The growth in net sales during December quarter was lowest since 23 quarters. Earlier, in June 2009 quarter, ITC had recorded 6% yoy growth in net sales, CapitalinePlus data shows.
Meanwhile, cigarette sales remained flat at Rs 4,142 crore against Rs 4,116 crore in a year ago quarter. PBIT (profit before interest and tax) of cigarette business however, grew 8.9% at Rs 2,886 crore on yoy basis, ITC said in a statement.
The stock opened at Rs 373 and touched a low of Rs 354 on NSE so far. Till 1311 hours, a combined 10.53 million shares changed hands on the counter on NSE and BSE.
