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via livemint.comBusiness & Companies

ITC profit falls 17% as higher cigarette taxes hit margins

FROM THE WIRE · LIVEMINT.COM

Higher taxes on cigarettes hurt margins and squeezed ITC's consolidated Ebitda, despite robust growth in non-cigarette businesses.

Read at the source ↗
MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishA 17% profit decline is relevant for the stock and the tobacco sector.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Higher cigarette taxes hurt margins.
  2. 02Consolidated Ebitda was squeezed, despite robust growth in non-cigarette businesses.
  3. 03Profit fell 17%.

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