ITC skids 4% at close on poor September quarter earnings

Shares of ITC fell over 5 per cent in trade on Friday after the cigarette-FMCG-to-hotel major reported its September quarter results below Street estimates.

The company posted 0.2 per cent dip in consolidated net profit at Rs 2,430 crore for the second quarter ended September 30, owing to decline in cigarette volumes.

The stock ended the day 4.30 per cent down after hitting an intraday low of Rs 331.40, down 5.24 per cent on the Bombay Stock Exchange (BSE).

The company had posted a net profit of Rs 2,425 crore during the corresponding period of previous fiscal year.

FMCG major's total income decreased from Rs 937.99 crore for the quarter ended September 30, 2014 to Rs 930.34 crore for the quarter ended September 30, 2015.