Shares of ITC rose more than 3 percent on Thursday after the company reported an 11.60 percent increase in consolidated net profit for the fourth quarter ended March.
The stock gained 3.43 percent and settled at Rs 275.65 on the BSE. During the day, it jumped 4.74 percent to its 52-week high of Rs 279.15.
At the NSE, it went up 3.35 percent to finish at Rs 275.75 each.
The market valuation of the company rose by Rs 11,276.55 crore to Rs 3,39,90.55 crore on the BSE.
In volume terms, 23.54 lakh shares traded on the BSE and over 7.82 crore shares on the NSE during the day.
The increase in the numerator assumes significance as the broader market was in negative territory, reflecting weak trends in global equities.
The BSE benchmark index Sensex fell 1,416.30 points or 2.61 percent to 52,792.23.
ITC Ltd on Wednesday reported an 11.60 percent increase in consolidated net profit at Rs 4,259.68 crore for the fourth quarter ended March 2022, driven by overall growth across all verticals.
The company had posted a net profit of Rs 3,816.84 crore during the March quarter of the previous fiscal year, ITC said in a regulatory filing.
Consolidated operating income increased by 15.25 percent to Rs 17,754.02 crore during the considered quarter, compared to Rs 15,404.37 crore in the corresponding period of the previous fiscal year.
The total cost of ITC was Rs 12,632.29 crore, an increase of 15.41 percent in Q4/FY 2021-22, compared to Rs 10,944.64 crore in the same period a year ago.
During the quarter, the cigarette segment achieved sales of Rs 7,177.01 crore, up from Rs 6,508.43 crore in the same period a year ago.