(Reuters) - ITC Ltd, India’s biggest cigarette maker, posted a 16.8 percent rise in its third-quarter profit on Friday, helped by a one-time gain.
The company, which also makes consumer goods ranging from biscuits to skincare products, said its profit rose to 30.90 billion rupees ($484.53 million) in the quarter ended Dec. 31, from 26.47 billion rupees a year ago. bit.ly/2FSdIiH
Analysts on average had expected a profit of 28.32 billion rupees, according to Thomson Reuters Eikon data.
The company reported a gain of 4.13 billion rupees on account of entry tax in the state of Tamil Nadu that was written back in the quarter.
Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Sherry Jacob-Phillips and Subhranshu Sahu