http://www.tobacco.org/newsfeed/org/itc.rss Latest top tobacco news headlines en-us http://economictimes.indiatimes.com/News_by_Industry/ITC_non-cigarette_biz_clocks_52/articleshow/3202908.cms http://tobacco.org/news/268314.html Non-cigarette business of diversified conglomerate ITC Ltd contributes nearly 52.4 per cent of the company's net turnover. In the report of the directors of ITC for the year ended March 31, 2008, it said that the company was uniquely positioned to tap the emerging opportunities in the FMCG sector by blending and synergising the diverse pool of competencies residing in its various businesses. ITC, which operates in various business areas like branded packaged foods, lifestyle retailing, education and stationery products and personal care products, is upbeat on the future of newly formed business portfolios. The Times of India India Sun, 06 Jul 2008 04:00:00 GMT http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aO8oRN7v0GtI http://tobacco.org/news/266039.html ITC Ltd., India's biggest cigarette maker, rose the most in more than three months after raising prices on some cigarette brands including Classic and Gold Flake. ``Prices have been revised in select brands,'' said Nazeeb Arif, spokesman of ITC. He didn't provide details. ITC, 32 percent owned by British American Tobacco Plc, gained 11.90 rupees, or 5.7 percent, to 221 rupees at the 3:30 p.m. local time close of trading in Mumbai. This is the company's biggest daily gain since Feb. 13. ``The price hike will help offset the negative impact of the increase in excise duty on non-filter cigarettes,'' Bloomberg News schatterjee4@bloomberg.net (Saikat Chatterjee) India Wed, 28 May 2008 04:00:00 GMT http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aXmrv34UuYQg http://tobacco.org/news/265812.html ITC Ltd., India's biggest tobacco company, said fourth-quarter profit rose 13 percent, less than analysts estimated, as it spent more to promote personal care products such as Fiama Di Wills shampoo and Superia soaps. Net income climbed to 7.36 billion rupees ($172 million), or 1.93 rupees a share, in the three months ended March, from 6.51 billion rupees, or 1.73 rupees, a year earlier, the Kolkata-based company said. Seven analysts surveyed by Bloomberg estimated a median profit of 7.52 billion rupees. ITC, 32 percent owned by British American Tobacco Plc, is expanding sales of shampoos, snack food, clothing and other goods as the Indian government increases taxes and restrictions on cigarettes, which account for about half of its revenue. Bloomberg News schatterjee4@bloomberg.net (Saikat Chatterjee) India Fri, 23 May 2008 04:00:00 GMT http://www.business-standard.com/common/news_article.php?leftnm=lmnu5&subLeft=3&autono=323915&tab=r http://tobacco.org/news/265810.html Higher losses in the FMCG segment result in a fall in operating profit margins. The Rs 13, 948 crore ITC's margins for the March 2008 quarter slipped 100 basis points to 26.5 per cent as higher start-up costs for non-cigarette FMCG products resulted in bigger losses than levels seen a year ago, though sales were up a smart 50 per cent. The stock was down 4 per cent on Friday with the losses from the non-cigarette FMCG business somewhat higher than the street's expectations at Rs 118 crore compared with Rs 48 crore in Q4FY07. Besides, the very disappointing 13 per cent rise in the net profit was more the result of a huge increase of 60 per cent in the other income. As ITC focuses on newer businesses-- especially in the foods and the consumer lifestyle space-- revenues from cigarette are coming down as a percentage of net sales Business Standard /images/general/shop@bsbazar-b.gif (Shobhana Subramanian / Mumbai May 24, 2008, 5:29 IST) India Sat, 24 May 2008 04:00:00 GMT http://www.business-standard.com/common/news_article.php?autono=323916&leftnm=1&subLeft=0&chkFlg= http://tobacco.org/news/265809.html ITC, India's largest FMCG company, said its fourth quarter profits rose by 14 per cent helped by higher cigarette sales of its premium brands including India Kings and Gold Flake. Profits in the three months ended March 31, 2008, increased to Rs 736 crore from Rs 651 crore a year earlier, the Kolkata-based company which earns about 61 per cent from selling cigarettes, said. Sales rose 16 per cent to Rs 3,934 crore. The company will pay a dividend of Rs 3.50 a share against Rs 3.10 in the preceding financial year. Business Standard /images/general/shop@bsbazar-b.gif (BS Reporter / Kolkata May 24, 2008, 5:29 IST) India Sat, 24 May 2008 04:00:00 GMT http://in.reuters.com/article/businessNews/idINIndia-32694620080326 http://tobacco.org/news/262069.html A global shortfall in tobacco output has boosted demand for the Indian leaf, pushing up prices in the domestic market to new records, hurting Indian cigarette makers and challenging the government's plan to cut acreage. The average price of Flue Cured Virginia (FCV), a premier grade used for cigarette-making, has risen more than 50 percent to 71.37 rupees per kg, from 47.47 rupees a year ago. "Internationally, the supply situation is not very comfortable. Especially Brazil, which is competing with India, there is shortage of 70 to 75 million kg," J Suresh Babu, chairman of the Tobacco Board, told Reuters. Reuters india.advertising@reuters.com (Rajendra Jadhav) India Wed, 26 Mar 2008 04:00:00 GMT http://www.bloomberg.com/apps/news?pid=20601091&sid=aShIHEPS6xqo&refer=india http://tobacco.org/news/260715.html ITC Ltd., India's biggest tobacco company, fell the most in three weeks in Mumbai trading after the government increased cigarette taxes, prompting brokerages to downgrade the stock. Shares of Kolkata-based ITC fell 4.5 percent to 193 rupees on the Bombay Stock Exchange today, their biggest one-day decline since Feb. 11. . . . The tax increase is ``steeper than expected,'' Citigroup analysts Princy Singh and Pragati Khadse said in a note to clients dated Feb. 29. Bloomberg News schatterjee4@bloomberg.net (Saikat Chatterjee) Mon, 03 Mar 2008 05:00:00 GMT http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aShIHEPS6xqo http://tobacco.org/news/260658.html ITC Ltd., India's biggest tobacco company, fell the most in three weeks in Mumbai trading after the government increased cigarette taxes, prompting brokerages to downgrade the stock. Shares of Kolkata-based ITC fell 4.5 percent to 193 rupees on the Bombay Stock Exchange today, their biggest one-day decline since Feb. 11. UBS AG cut its forecasts on cigarette volumes in India saying they will probably fall 2.5 percent in the year through March 2009, compared with the earlier estimated gain of 4 percent, after the government at least doubled the excise tax on non- filter cigarettes. The increase in overall weighted duty for ITC is equal to about 16 percent, Citigroup Inc. said. Bloomberg News schatterjee4@bloomberg.net (Saikat Chatterjee) India Mon, 03 Mar 2008 05:00:00 GMT http://www.businesswire.com/portal/site/home/index.jsp?epi-content=NEWS_VIEW_POPUP_TYPE&newsId=20080204005819&ndmHsc=v2*A1199883600000*B1202548664000*DgroupByDate*J2*L1*N1000837*Ztobacco&newsLang=en&beanID=202776713&viewID=news_view_popup http://tobacco.org/news/259452.html Research and Markets (http://www.researchandmarkets.com/reports/c81641) has announced the addition of "India: Tobacco" to their offering. Tobacco occupies a prime place in the Indian economy on account of its considerable contribution to the agricultural, industrial and exports sectors. India is currently the world's 2nd largest producer of tobacco next to China and the fourth largest exporter of unmanufactured tobacco in the world. "India: Tobacco" covers the global perspective, general economic environment, tobacco/cigarette industry and economic impact of the tobacco industry in India. It also covers the market trends and outlook of production, distribution, exports, imports, environment analysis, export strategy 2002-2007 and organizations dealing in tobacco: Directorate of Tobacco Development, Indian Tobacco Development Council, Indian Council of Agricultural Research, Tobacco Board, Directorate of Marketing and Inspection, Central Board of Excise and Customs, and Departments of Agriculture in various States. There report also provides a comparative matrix and SWOT for the industry's local leading players: ITC Holdings Corporation (ITC), Godfrey Phillips India Limited, Vazir Sultan Tobacco (VST) and G.T.C. Business Wire press@researchandmarkets.com India Mon, 04 Feb 2008 05:00:00 GMT http://www.indianmuslims.info/news/2008/jan/27/maoists_shut_down_itcs_tobacco_factory_nepal.html http://tobacco.org/news/258776.html Indian tobacco giant ITC has had little cause to celebrate the 59th Indian Republic Day with trade unionists backed by the Maoists shutting down its tobacco factory in south Nepal, the second such disruption in three months. Surya Nepal, ITC's majority-held joint venture that is also one of Nepal's largest revenue earners, has had its tobacco factory in Simra town in frontier district Bara closed since Wednesday with its Maoist-affiliated trade union raising a fresh 15-point demand. IndianMuslims.com Nepal Mon, 28 Jan 2008 05:00:00 GMT http://economictimes.indiatimes.com/News/News_By_Company/Earnings/ITC_rides_surge_in_non-tobacco_biz_Q3_net_rises_16/articleshow/2712434.cms http://tobacco.org/news/258385.html KOLKATA: Tobacco and hotels major ITC on Friday reported a 16% Y-o-Y growth in net profit for the third quarter (Q3) ended December �?~07 to Rs 830 crore. Net sales during the period grew by 13% to 3,595.4 crore, driven by 50% growth in revenues from the newer non-tobacco FMCG businesses such as packaged foods, lifestyle retailing and stationery. The Times of India India Sat, 19 Jan 2008 05:00:00 GMT http://www.bloomberg.com/apps/news?pid=newsarchive&sid=anmeFAcc_YGc http://tobacco.org/news/258378.html ITC Ltd., India's biggest tobacco company, said third-quarter profit rose 16 percent, more than analysts anticipated, on higher cigarette prices. Net income rose to 8.31 billion rupees ($212 million) in the three months ended Dec. 31 from 7.17 billion rupees a year earlier, the Kolkata-based company said in a statement today. That compares with the 8.05 billion rupee median estimate of seven analysts surveyed by Bloomberg News. ITC, 32 percent owned by British American Tobacco Plc, is expanding sales of shampoo, snack food, clothing and other goods as the Indian government increases taxes and restrictions on cigarettes, which account for about half its revenue. The company raised cigarette prices by about 20 percent last year. . . . ``The cause for anxiety, however, stems from the steep increase in indirect taxes on cigarettes in India,'' ITC said in a statement. The additional indirect taxes during the quarter aggregated to 5.13 billion rupees, the company said. The government plans to ban smoking in public places, except designated areas in restaurants and airports from May 31, the Hindustan Times reported on Jan. 12, citing Health Minister Anbumani Ramadoss. Bloomberg News schatterjee4@bloomberg.net (Saikat Chatterjee) India Fri, 18 Jan 2008 05:00:00 GMT http://www.bloomberg.com/apps/news?pid=20601091&sid=advR6TbXzlfU&refer=india http://tobacco.org/news/258320.html ITC Ltd., India's biggest tobacco company, said third-quarter profit rose 16 percent, more than analysts anticipated, on higher cigarette prices. Net income rose to 8.31 billion rupees ($212 million) in the three months ended Dec. 31 from 7.17 billion rupees a year earlier, the Kolkata-based company said in a statement today. That compares with the 8.05 billion rupee median estimate of seven analysts surveyed by Bloomberg News. ITC, 32 percent owned by British American Tobacco Plc, is expanding sales of shampoo, snack food, clothing and other goods as the Indian government increases taxes and restrictions on cigarettes, which account for about half its revenue. The company raised cigarette prices by about 20 percent last year. Bloomberg News schatterjee4@bloomberg.net (Saikat Chatterjee) India Fri, 18 Jan 2008 05:00:00 GMT http://economictimes.indiatimes.com/News/News_By_Industry/Cons_Products/India_can_make_hay_as_tobacco_prod_dips_in_Brazil_Zimbabwe/articleshow/2675753.cms http://tobacco.org/news/257707.html India can take advantage of reduced tobacco production in traditional tobacco-growing countries like Brazil and Zimbabwe, ITC CEO S Janardhan Reddy said. Since the production of tobacco worldwide has gone down, India should increase its production in the country, he said at the Tobacco Board Foundation Day here. Indian Tobacco Association President M Venkateswara Rao said the production of tobacco in other countries has declined resulting in heavy demand for Indian tobacco. The Times of India India Sat, 05 Jan 2008 05:00:00 GMT http://timesofindia.indiatimes.com/Business/India_Business/ITC_eyes_Rs_1000_cr_turnover/articleshow/2653621.cms http://tobacco.org/news/257551.html The FMCG and tobacco major ITC Ltd is planning to make Bingo a Rs 1,000-crore brand in two years down the line. ITC launched Bingo eight months back to get a toe hold in the Rs 2,000-crore snacks mart in the country. Besides, the company will soon launch a low-cholesterol health biscuit under Sunfeast brand. The Times of India India Thu, 27 Dec 2007 05:00:00 GMT