ITC Q2 preview: profit seen down nearly 30% YoY as cigarette tax hikes bite
FROM THE WIRE · ECONOMICTIMES.INDIATIMES.COM
ITC is expected to report a weak Q2, with brokerages forecasting an 8% decline in cigarette volumes and a drop of up to 29% in cigarette operating profit following tax hikes. Nuvama expects consolidated revenue to fall 3% YoY and EBITDA to decline 20%. Growth in FMCG and paper…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishExpected profit decline at a large Indian company tied to tobacco taxes is relevant for its stock.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Brokerages forecast an 8% decline in cigarette volumes.
- 02Cigarette operating profit could fall up to 29% after tax hikes.
- 03Nuvama expects consolidated revenue down 3% and EBITDA down 20%.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets