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ITC net profit up 4.1 percent
National,Business,
Fri, 24 Oct 2008
IANS
Mumbai, Oct 24 (IANS) ITC Ltd, which has diversified interests in tobacco products, fast moving consumer goods (FMCG) and hospitality business posted a net profit of $178.4 million for the second quarter up 4.1 percent year-on-year from $171.3 million in the same period last year.
The company's net revenue went up from $773 million in the second quarter of 2007-08 to $883 million.
ITC's net profit for the half year ending Sep 30 stood at $344.75 million as a little less lower than $345.27 million for the corresponding period last year.
During the quarter, the company invested $13.3 million in the formation of its new subsidiary company, ITC Infotech India Ltd, dealing in IT and IT-enabled services.
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