MUMBAI May 23 India's largest cigarette maker,
ITC Ltd, said fourth-quarter net profit grew 18
percent, beating market expectations, on price hikes and an
uptick in sales of cheaper cigarettes.
ITC, India's fourth-biggest company by market value, said in
a statement on Friday its net profit rose to 22.78 billion
rupees for the quarter ended March 31, up from 19.3 billion
rupees a year earlier.
Analysts had expected ITC's earnings to rise 15 percent to
22.16 billion rupees, according to Thomson Reuters Starmine
(Reporting by Nandita Bose; Editing by Kenneth Maxwell)