ITC shares rally nearly 5% to hit 52-week high after Q4 earnings

At the NSE, it rallied 4.66 percent to its 52-week high of Rs 279.25 apiece.

AgenciesUpdated: Thursday, May 19, 2022, 11:20 AM IST
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The stock jumped 4.74 percent to its 52-week high of Rs 279.15 on the BSE /Photo by BL SONI |

Shares of ITC rallied nearly 5 percent in morning trade on Thursday after the company reported an 11.60 percent rise in consolidated net profit for the fourth quarter ended in March 2022.

The stock jumped 4.74 percent to its 52-week high of Rs 279.15 on the BSE.

At the NSE, it rallied 4.66 percent to its 52-week high of Rs 279.25 apiece.

The surge in the counter assumes significance as the broader market was trading in the negative territory mirroring weak trends in global equities.

The BSE benchmark index Sensex was trading at 53,184.67, lower by 1,023.86 points or 1.89 percent in morning deals.

ITC Ltd on Wednesday reported an 11.60 percent rise in its consolidated net profit at Rs 4,259.68 crore for the fourth quarter ended in March 2022, driven by all-round growth across verticals.

The company had posted a net profit of Rs 3,816.84 crore during the January-March quarter of the previous fiscal, ITC said in a regulatory filing.

Consolidated revenue from operations was up 15.25 percent to Rs 17,754.02 crore during the quarter under review compared to Rs 15,404.37 crore in the corresponding period of the previous fiscal.

ITC's total expenses were at Rs 12,632.29 crore, up 15.41 percent in Q4/FY 2021-22, as against Rs 10,944.64 crore in the year-ago period.

During the quarter, the cigarette segment clocked revenue of Rs 7,177.01 crore, up from Rs 6,508.43 crore in the year-ago period.

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