India's ITC posts quarterly profit fall as cigarette tax hike pressures margins
21/05/2026 11:01
May 21 (Reuters) - Indian consumer goods major ITC ITC.NS reported a near 74% fall in fourth-quarter profit on Friday, as higher taxes weighed on margins in its core cigarettes business. The company, which makes Gold Flake cigarettes, reported profit fell to 51.13 billion rupees in the March quarter from 195.62 billion rupees a year earlier. The company had recorded a one-time gain of 151.79 billion rupees in the year-ago quarter following the demerger of its hotels business. (Reporting by Surbhi Misra and Devika Nair in Bengaluru; Editing by Janane Venkatraman) ((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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Brief: ITC Q4 Profit 51.13 Billion Rupees