ITC Shares Surge 5% After Strong Q2 Earnings

New Delhi, Oct 25 (PTI) Shares of diversified entity ITC Ltd on Friday jumped nearly 5 per cent after the firm reported an 1.8 per cent increase in consolidated net profit for the second quarter ended September 2024.

The company's stock climbed 4.58 per cent to Rs 493.50 on the BSE.

At the NSE, it soared 4.62 per cent to Rs 493.50.

The stock emerged as the biggest winner among the Sensex and Nifty firms.

ITC Ltd on Thursday reported an 1.8 per cent increase in consolidated net profit to Rs 5,054.43 crore for the second quarter ended September 2024.

The company had posted a consolidated net profit of Rs 4,964.52 crore in the year-ago period, according to a regulatory filing from ITC.

ITC's revenue from operations jumped 15.62 per cent to Rs 22,281.89 crore in the September quarter. It was Rs 19,270.02 crore in the corresponding quarter of the previous fiscal.

The total expenses were 20.92 per cent higher in the September quarter to Rs 16,056.86 crore.

The total income of ITC, which includes other income, rose 14.86 per cent to Rs 22,897.85 crore. It was Rs 19,934.9 crore a year ago.