DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
Vivek Prakash - 1 Shirish Pardeshi - 1 Navamya Ganesh Acharya - 1 Varun - 1 Anil D'Silva - 1 Varun Vyas - 1 Sohini Goswami - 1
Top related locs:
BENGALURU Bengaluru Mumbai CHENNAI LSEG . Praveen Chennai
Top related orgs:
ITC - 2 Thomson - 2 REUTERS - 1 Hindustan Unilever - 1 Centrum Broking - 1 Nestle India - 1 Varun Vyas - 1 India's ITC - 1

Search resuls for: "India's ITC"


2 mentions found


☆ India's ITC misses profit estimates as competition, costs rise
  + stars: | 2023-10-19 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Vivek Prakash/File Photo Acquire Licensing RightsBENGALURU/CHENNAI, Oct 19 (Reuters) - India's ITC (ITC.NS) reported a smaller-than-expected rise in its second-quarter profit on Thursday, as the consumer goods major grappled with stiff competition from smaller rivals and higher prices of some commodities. Dove-soapmaker Hindustan Unilever said earlier in the day it lost some market share in its mass segment - comprising lower-priced products - due to competition. The tobacco-to-hotels conglomerate's profit still rose 10% to 49.27 billion rupees ($592.81 million), but missed analysts' average estimate of 49.54 billion rupees, according to data from LSEG. Revenue from operations rose 3% to 177.05 billion rupees, helped by a 10% surge in its cigarettes business. Other consumer goods majors Nestle India (NEST.NS) and Hindustan Unilever eased past quarterly earnings estimates earlier on Thursday, as city dwellers spent more on affordable pick-me-ups like cookies and coffee.
Persons: Vivek Prakash, Shirish Pardeshi, Navamya Ganesh Acharya, Varun, Anil D'Silva Organizations: ITC, REUTERS, Hindustan Unilever, Centrum Broking, Nestle India, Varun Vyas, Thomson Locations: Mumbai, BENGALURU, CHENNAI, LSEG ., Bengaluru, Praveen, Chennai
☆ India's ITC to demerge hotel business into separate company; shares fall
  + stars: | 2023-07-24 | by ( ) www.reuters.com   time to read: +2 min
BENGALURU, July 24 (Reuters) - India's ITC Ltd (ITC.NS) said it would spin off its hotel business, separating it from its cigarettes and food units, sending shares 4% lower on Monday. Shares of ITC hit a record high earlier in the day before falling as much as 4.3% after the demerger was announced. Indian hotels have turned into a hot sector as pandemic-led disruptions eased, with operators enjoying higher rates and occupancy. The Indian hospitality industry is expected to witness rapid growth going forward, ITC said. The hotel business accounted for nearly 4% of ITC's total revenue from services and sales and contributed over 2% of its annual profit, according to its latest annual report.
Persons: Varun Vyas, Sohini Goswami Organizations: India's ITC, ITC Hotels, ITC, Tata, Indian Hotels, Taj Hotels, Marriott Hotels, Oberoi, Thomson Locations: BENGALURU, Bengaluru
0 next >>
Total: 2