ITC shares decline nearly 3% despite good Q2 show

New Delhi: ITC stock Friday fell by nearly 3 per cent even as the diversified group reported 11.92 per cent rise in standalone net profit for the quarter ended September 30, 2018.

The scrip declined 2.30 per cent to settle at Rs 280.65 on BSE. Intra-day, it dropped 3.82 per cent to Rs 276.25. At NSE, shares of the company went down 2.66 per cent to close at Rs 279.90.

In terms of equity volume, 13.17 lakh shares of the company were traded on BSE and over 2 crore shares changed hands at NSE during the day.

ITC Friday reported 11.92 per cent rise in standalone net profit to Rs 2,954.67 crore for the second quarter of 2018-19.

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The company had posted a net profit of Rs 2,639.84 crore in the second quarter of 2017-18, ITC said in BSE filing. Revenue from operations stood at Rs 11,272.51 crore as compared to Rs 9,763.92 crore in the year-ago period.