ITC profit rises 18

Cigarette major ITC Ltd has reported a profit after tax of Rs 449 crore for the quarter to December 31, 2004, an increase of 18 per cent on the figure for the previous year.

Net turnover increased by nearly 11 per cent to Rs 1,795 crore during the same period. Pre-tax profit grew by nearly 13 per cent to Rs 639 crore. The earnings per share for the latest quarter was Rs 18.10.

ITC cited higher cigarette sales, a better showing by the hotels, paperboards, paper and packaging segments, as well as a ramp-up of its new forays for better figures.

In cigarettes, one of the two sub-divisions of the FMCG segment, ITC said it focused on 8216;8216;world class quality8217;8217; to overcome the 8216;8216;challenging environment8217;8217; created by the ban on such ads and the education cess of 2 per cent on excise.