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NEW DELHI: India’s ITC Ltd reported a bigger-than-expected rise in first-quarter profit on Monday, buoyed by strong demand for tobacco products and consumer goods.
The cigarettes-to-hotels conglomerate‘s profit 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, it said in an exchange filing.
Analysts, on an average, had expected a profit of 48.29 billion rupees, according to Refinitiv IBES data.
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