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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Cigarettes, hotels bring cheer, agriculture, paperboards disappoint for ITC. Meanwhile, formulations are the mainstay for Sun Pharma.
On Thursday, cigarettes-to-hotels conglomerate ITC and pharmaceutical giant Sun Pharma reported their financial results for the January-March quarter of the 2023-24 fiscal year.
First, ITC. The company reported a slight dip in consolidated net profit to Rs 5,120 crore for the fourth quarter, down 1% from the year-ago period. Its revenue from operations grew 2% year-on-year to Rs 19,446 crore. ITC’s profit fell short of expectations, as the company faced heightened competition from smaller rivals.
Standalone profit and revenue for the company stood at Rs 5,020 crore and Rs 17,752.87 crore, respectively, for the March quarter.
Segment-wise, revenue from its …
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