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ITC's net revenue up by 14.8%

India Blooms News Service | | 01 Nov 2014, 12:58 am
New Delhi, Oct 31 (IBNS) Cigarettes and consumer goods maker ITC Ltd on Friday said its Net Revenue has grown by 14.8 percent to stand at Rs. 8930.32 crores for the quarter that ended on Sept 30.

"ITC posted another quarter of impressive growth in revenue and profits notwithstanding a challenging business environment exacerbated by a steep hike in Excise Duties on Cigarettes for the third year in succession as announced in the Union Budget 2014. Net Revenue at Rs. 8930.32 crores recorded a growth of 14.8% driven by Agri Business, Branded Packaged Foods, Personal Care and Cigarettes," the company said in a statement.

The company's Net Profit during the quarter stood at 15.6 percent.

"After adjusting for liability written back in Q2 FY14 (towards Rates & Taxes and interest thereon pertaining to earlier years, aggregating Rs. 192.68 crores), underlying growth in Profit Before Tax and Net Profit during the quarter stood at 17.8% and 15.6% respectively. Earnings Per Share for the quarter stood at Rs. 3.04," it said.

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