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· ITC
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Rising volumes in the cigarette business has lit up ITC’s numbers
Jump to full article: Business Standard (in), 2003-05-27
Intro: ITC’s cigarette volumes grew 4.1 per cent last fiscal, which not only reversed the negative trend seen in the past few years, but also was at the higher end of market expectations.
Coupled with a 4-5 per cent increase in prices, this resulted in a 9.3 per cent increase in revenues for the cigarettes business last fiscal. According to a company release, the growth in revenues was aided by an improvement in product mix.
This seems to also be the reason the company managed an 85 basis points rise in EBIT margins in the cigarettes business. Indeed, the mainstay cigarettes business delivered for the company last fiscal, accounting for over 60 per cent of incremental revenues last fiscal.
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