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ITC Q2 Preview: Diversified conglomerate ITC is expected to post mid-single-digit revenue growth in the September quarter due to subdued performance in papers and agri businesses. Revenue for the quarter is seen growing 4%, according to an average estimate of five brokerages. Net profit, meanwhile, is likely to rise by 8%. ....
The higher growth in the profit despite a muted topline is primarily due to ITCs higher dependence on the cigarette business. Despite a scale-up in the FMCG business, cigarettes constitute close to 70% of ITCs profit and about 45% of its revenue. ....