ITC Ltd, country's biggest cigarette maker, posted on Wednesday a 3.85 per cent rise in December-quarter profit, boosted by higher cigarette sales.
Profit came in at Rs 3,209 crore for the three months ended December 31, 2018, compared with Rs 3,090 crore a year ago.
That came above analysts' estimate of Rs 3,134 crore, according to data on Refinitiv Eikon.
The Kolkata-based company, which also makes Sunfeast biscuits and Classmate stationery items, reported a jump of 14.9 per cent in revenue from operations, while revenue from its cigarettes segment witnessed a 9.6 per cent growth.
Shares in ITC closed 4.8 per cent lower at Rs 276 apiece on the NSE, whose benchmark index Nifty finished down 0.8 per cent.
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