ITC consolidated Q2 net at Rs 2,430 cr; stock slips over 5%

NEW DELHI: Shares of ITC plunged over 5 per cent in afternoon trade on Friday after the cigarette-to-consumer goods conglomerate reported 2.4 per cent year-on-year (YoY) drop in net sales at Rs 8,800 crore for the quarter ended September 30, which was lower than ET Now's estimate of Rs 9,064 crore.

ITC had reported net sales of Rs 9,023 crore for the corresponding quarter of last financial year.

At 01:00 PM; ITC shares were trading 5.05 per cent lower at Rs 332.10. The stock hit a low of Rs 331.40 and a high of Rs 351 on the BSE.

ITC's Q2 profit grew 0.2 per cent to Rs 2,430 crore from Rs 2,425 crore reported for the year-ago period. Analysts polled by ET Now had pencilled in a number closer to Rs 2,412 crore.