ITC's revenue from operations fell 28% to Rs 10,813 crore, while excise duty paid was down about 94%.
Country's biggest cigarette maker ITC Ltd posted a better-than-expected quarterly profit on Wednesday, helped by a fall in excise duty.
Profit for the quarter ended March 31 came in at Rs 2,933 crore ($432.44 million) from Rs 2,669 crore reported last year, the company, which also makes biscuits and noodles under the Sunfeast brand, said.
Analysts on average expected a net profit of Rs 2,845 crore, according to Thomson Reuters data.
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