ITC Shares Rise Nearly 2 Percent After Earnings Announcement

Shares of ITC Ltd on Friday gained nearly 2 per cent after the firm reported a 15 per cent increase in consolidated net profit for the third quarter ended December 31.

At the BSE, it jumped 1.79 per cent to Rs 238.50. The stock gained 1.72 per cent to Rs 238.50 on the NSE.

The earnings were announced after market hours on Thursday. Diversified entity ITC Ltd on Thursday reported a 15 per cent increase in consolidated net profit to Rs 4,118.8 crore for the third quarter ended December 31, 2021, on the back of robust demand across business verticals.

The company had posted a consolidated net profit of Rs 3,587.2 crore in the corresponding period last fiscal, ITC Ltd said in a regulatory filing. Its consolidated total income stood at Rs 18,787.72 crore, against Rs 14,670.17 crore in the year-ago quarter, it added.

(PTI)