NEW DELHI (NewsRise) -- ITC, India's biggest cigarette maker, reported a 5.7% rise in fourth-quarter net income, despite its tobacco sales remaining under pressure due to government policies that discourage smoking.
ITC, also known for its Maurya hotel chain, said profit rose to 24.95 billion rupees ($370 million) in the three months ended March 31, from 23.61 billion rupees a year earlier. Net sales rose 9.4% to 101.69 billion rupees. Credit Suisse had expected a profit of 24.65 billion rupees on sales of 96.48billion rupees.
