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ITC Q2 Results Preview: Profit seen falling nearly 30% YoY as cigarette tax hikes bite

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Summary

ITC is expected to report a weak Q2, with brokerages forecasting an 8% decline in cigarette volumes and a drop of up to 29% in cigarette operating profit following tax hikes. Nuvama expects consolidated revenue to fall 3% YoY and EBITDA to decline 20%. Growth in FMCG and paper businesses could provide some cushion against the pressure.

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  1. Times of India Center Factuality: Mostly factual IN
    ITC Q2 Results Preview: Profit seen falling nearly 30% YoY as cigarette tax hikes bite

    ITC is expected to report a weak Q2, with brokerages forecasting an 8% decline in cigarette volumes and a drop of up to 29% in cigarette operating profit following tax hikes. Nuvama expects consolidated revenue to fall 3% YoY and EBITDA to decline 20%. Growth in FMCG and...