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ITC's Profit Drops 18.5% Amidst Cigarette Business Woes

2 Nov

Summary

Consolidated net profit fell 18.5% in Q2 FY27.
Cigarette business earnings decline significantly impacted results.
FMCG, agriculture, and paper segments showed strong growth.

ITC Ltd reported a significant 18.5% drop in its consolidated net profit for the second quarter of FY27, a period that concluded recently. The decrease in profitability stemmed largely from a substantial decline in earnings generated by its core cigarette business.

Despite the challenges in the cigarette segment, ITC's other business verticals showcased resilience. The company's Fast-Moving Consumer Goods (FMCG), agriculture, and paper divisions all recorded strong growth during the September quarter. Overall net revenue for the company saw a 5% increase compared to the same period in the previous fiscal year.

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