India's ITC profit falls as cigarette tax hike weighs
31/07/2026 12:07
India's ITC profit falls as cigarette tax hike weighs July 31 (Reuters) - India's ITC ITC.NS reported a 27% fall in quarterly profit on Friday, as fresh cigarette tax hikes this year squeezed margins, while staggered price hikes weighed on demand for pricier brands.
The consumer goods major, home to brands including Aashirvaad flour and Bingo chips, said profit fell to 35.79 billion rupees ($375.24 million) in the first quarter ended June 30, from 49.11 billion rupees a year earlier.
($1 = 95.3800 Indian rupees)
(Reporting by Praveen Paramasivam in Chennai)
((Praveen.Paramasivam@thomsonreuters.com; +91 867-525-3569;))
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