ITC shares gain after company posts strong Q1 results
ITC just dropped its Q1 results for FY24-25, and the numbers got investors smiling—shares edged up 0.37% on Monday, closing at ₹418.
The stock saw some action during the day, hitting a high of ₹422.50 as strong performances across different parts of the business caught attention.
Revenue jumped 20% year-on-year to ₹20,911 crore
Revenue jumped 20% year-on-year to ₹20,911 crore. Cigarettes brought in the most growth (up 7.7%), thanks to premium brands doing well.
FMCG (think biscuits and personal care) rose by 8.6%, while agri-business took off with a huge 39% boost from commodity trading and tobacco exports.
Even with cost pressures, paperboards and packaging managed to grow by 7%. All this activity helped push ITC's market cap past ₹5 lakh crore—investors seem pretty optimistic about what's next for the company.