ITC shares rise over 1 pc after strong Q3 show

NEW DELHI: Shares of ITC Ltd on Monday gained over 1 per cent in the morning trade after the firm reported a 23.09 per cent increase in its consolidated net profit to Rs 5,070.09 crore for the third quarter.

ITC shares jumped 1.29 per cent to Rs 385.40 apiece in early trade on the BSE. It touched an early high of Rs 388.20 per scrip.

Shares of the company witnessed a similar movement on the NSE, where it gained 1.22 per cent to Rs 385.30 per share.

The earnings were announced after market hours on Friday.

Diversified entity ITC Ltd on Friday reported a 23.09 per cent increase in its consolidated net profit to Rs 5,070.09 crore for the third quarter ended December 31, 2022.

The company had posted a net profit of Rs 4,118.80 crore during the October-December quarter of the previous fiscal, the company said in a regulatory filing.

Its revenue from operations rose 3.56 per cent to Rs 19,020.65 crore during the quarter under review against Rs 18,365.80 crore in the corresponding period of the previous fiscal.

Total expenses dipped 3.29 per cent to Rs 12,772.27 crore from Rs 13,207.28 crore in the year-ago period, it added.