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14 Aug 2023

ITC Reports 17.6% Hike In Net Profit Amid Strong Demand For Consumer Goods

India's ITC Ltd reported a better-than-expected profit in the first quarter on Monday as it kept a tight lid on expenses and saw strong demand for consumer goods in its urban and rural markets. Net profit at the cigarettes-to-hotels conglomerate rose 17.6% to 49.03 billion rupees ($590.28 million) in the three months ended June 30 from 41.69 billion a year earlier.

14 Aug 2023

ITC Board Fixes Share Entitlement Ratio At 1:10 For Demerged Hotels Biz

The firm said the demerger would be in the best interests of the two companies and their respective shareholders and other stakeholders. ITC Hotels will have the ability to raise capital from equity and debt markets for funding its growth requirements.

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