ITC stock up 3%, m-cap surges Rs 10,872 crore post Q4

New Delhi: Shares of ITC on Friday rose by 3 percent, adding Rs 10,872 crore to its market valuation, after the company reported a 12.13 percent increase in standalone net profit for the fourth quarter of 2016-17.

The stock gained 2.99 percent to settle at Rs 308.65 on the BSE. During the day, it jumped 4.57 percent to Rs 313.40 -- its 52-week high.

At NSE, shares of the company moved up by 3 percent to close at Rs 309.10.

The company's market valuation surged Rs 10,871.98 crore to Rs 3,74,928.98 crore.

On the volume front, 26.22 lakh shares of the company were traded on the BSE and over 2 crore shares changed hands at the NSE during the day.

ITC today reported a 12.13 percent increase in standalone net profit at Rs 2,669.47 crore for the March quarter, driven by revenue growth in agri commodities, branded packaged foods and personal care product businesses.

The company had posted a net profit of Rs 2,380.68 crore for the January-March quarter of the last fiscal, ITC said in a BSE filing.

ITC's net sales during the period under review were up 6.15 percent at Rs 15,008.82 crore, as against Rs 14,138.78 crore for the corresponding quarter last fiscal.