ITC Reports 17.6% Hike In Net Profit To Rs 4,903 Cr For Q1 Amid Strong Demand For Consumer Goods In Urban And Rural Markets
India's ITC Ltd reported a better-than-expected profit in the first quarter on Monday as it kept a tight lid on expenses and saw strong demand for consumer goods in its urban and rural markets. Net profit at the cigarettes-to-hotels conglomerate rose 17.6% to 49.03 billion rupees ($590.28 million) in the three months ended June 30 from 41.69 billion a year earlier.
Aug 14, 2023, 19:21 PM IST
ITC Board Fixes Share Entitlement Ratio At 1:10 For Demerged Hotels Biz
The firm said the demerger would be in the best interests of the two companies and their respective shareholders and other stakeholders. ITC Hotels will have the ability to raise capital from equity and debt markets for funding its growth requirements.
Aug 14, 2023, 19:09 PM IST
