The market valuation of ITC rose by Rs 11,276.55 crore to Rs 3,39,690.55 crore on the BSE.
New Delhi:
ITC shares rose over 3 per cent on Thursday after the company reported an 11.60 per cent rise in consolidated net profit for the fourth quarter ended March.
The stock closed 3.43 per cent higher at Rs 275.65 on BSE. During the day, it jumped 4.74 per cent to hit a 52-week high of Rs 279.15.
On the NSE, it closed at Rs 275.75 per share, up 3.35 per cent.
The company’s market valuation rose by Rs 11,276.55 crore to Rs 3,39,690.55 crore on the BSE.
In terms of volume, 23.54 lakh shares were traded on BSE and over 7.82 crore shares in NSE during the day.
The rise in the counter assumes significance as the broader market was in negative territory indicating weak trends in global equities.
The BSE benchmark index Sensex closed 1,416.30 points or 2.61 per cent lower at 52,792.23.
ITC Ltd on Wednesday reported 11.60 per cent growth in its consolidated net profit at Rs 4,259.68 crore for the fourth quarter ended March 2022, driven by all-round growth across the verticals.
ITC said in a regulatory filing that the company had posted a net profit of Rs 3,816.84 crore during the March quarter of the previous financial year.
Consolidated revenue from operations grew 15.25 per cent to Rs 17,754.02 crore during the quarter under review as against Rs 15,404.37 crore in the corresponding period of the previous fiscal.
Total ITC expenditure stood at Rs 12,632.29 crore, up 15.41 per cent in the fourth quarter of FY 2021-22, as against Rs 10,944.64 crore in the year-ago period.
The cigarettes segment generated revenue of Rs 7,177.01 crore during the quarter as against Rs 6,508.43 crore in the year-ago period.