ITC net profit up 4.1 percent

By IANS,

Mumbai : ITC Ltd, which has diversified interests in tobacco products, fast moving consumer goods (FMCG) and hospitality business posted a net profit of $178.4 million for the second quarter up 4.1 percent year-on-year from $171.3 million in the same period last year.

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The company’s net revenue went up from $773 million in the second quarter of 2007-08 to $883 million.

ITC’s net profit for the half year ending Sep 30 stood at $344.75 million as a little less lower than $345.27 million for the corresponding period last year.

During the quarter, the company invested $13.3 million in the formation of its new subsidiary company, ITC Infotech India Ltd, dealing in IT and IT-enabled services.