ITC reports lower quarterly profit as FMCG sales surge

ITC's consolidated net profit for the second quarter of FY27 dropped to Rs 4,229 crore, down from Rs 5,187 crore a year earlier. The company’s net revenue grew 5% to Rs 20,454 crore, while profit from its cigarette segment fell 27.2% to Rs 3,813 crore and cigarette revenue declined 21% year‑on‑year. In contrast, the non‑cigarette FMCG business posted its strongest revenue growth in 14 quarters, with revenue up 16% and profit up 28%. Analysts kept positive outlooks, with Jefferies maintaining a Buy rating and a Rs 350 target price, and Emkay retaining an Add rating but cutting its target to Rs 300.