Cigarette tax hike impacts ITC's Q1 net profit, down 16.2%
· rediff.com
ITC reported a 16.2 per cent year-on-year drop in consolidated net profit to ₹4,394.13 crore in Q1 FY27, primarily due to a significant increase in taxes on its cigarette business. Consolidated net revenues also declined by 11.1 per cent to ₹19,114 crore, missing analyst estimates.
Tobacco-to-hotel conglomerate ITC reported a significant 16.2 per cent year-on-year drop in consolidated net profit for the first quarter of fiscal year 2026-27...