ITC Q3 results: Net profit rises 10.8% to Rs 5,572 crore, beats estimates

The company's profit rose 10.8% to Rs 5,572 crore ($670.3 million) in the third quarter ended Dec. 31

India's ITC beat analysts' estimates for third-quarter profit on Monday as the consumer goods giant benefited from higher demand for its products ranging from cigarettes to noodles.

The company's profit rose 10.8% to Rs 5,572 crore ($670.3 million) in the three months ended Dec. 31.

Analysts on average had expected a profit of Rs 5,148 crore, according to data from LSEG.
 

The company and peers have benefited as a crackdown on the smuggling of international cigarette brands reduced competition.

Cigarettes account for more than 40% of ITC's topline.
 

Revenue from operations rose 2% to Rs 17,665 crore, with the cigarettes business growing 3.6%.