India's ITC Q1 net profit up 20 pct, misses forecast
MUMBAI, July 26
MUMBAI, July 26 (Reuters) - ITC Ltd, India's largest cigarette maker, lagged market forecasts with a 20 percent jump in quarterly net profit.
ITC, India's fifth most valuable company at about $35 billion, said on Thursday its net profit rose to 16.02 billion rupees ($285.23 million) for the fiscal first quarter ended June 30 from 13.3 billion rupees a year earlier. Analysts had expected a 23 percent rise in earnings to 16.3 billion rupees, according to Thomson Reuters I/B/E/S. ($1 = 56.1650 Indian rupees) (Reporting by Nandita Bose; Editing by Jijo Jacob)