analysts maintain buy on ITC scrip
  • Despite ITC disappointing fourth quarter earnings report and nearly stagnant growth, market analysts are advising their clients to buy more of the stock.

    The cigarettes-to-paper conglomerate reported a net profit of crore for the fourth quarter of 2014-15, up 7.8 per cent from crore a year ago. The net profit for 2014-15 stood at crore []Online Cigarettes Free Shipping[/url], up 12.5 per cent from crore in the previous year.

    Excise []Cigarette Tobacco For Sale Online[/url], VAT hit marginsIn the press release accompanying its Q4FY15 results []Newport Menthol Cigarettes[/url], ITC said quarterly performance had been hit by steep increases in excise duty and VAT on cigarettes. The conglomerate faced continued pressure on its volumes, posting a Q4 profit of crore ( crore) []Buy Cigarettes Online[/url].

    In a report, research firm Maybank Kim Eng said ITC Q4 earnings missed their estimates by 6 per cent.

    However, it added, fourth quarter factors in the worst of the scenario for ITC, which will stabilise in the next three quarters []Cheapest Marlboro Cigarettes Free Shipping[/url]. ITC was able to take majority price increases in March this year []Cheap Cigarettes[/url], which are effective for the whole of Q1 and will aid cigarette margins in Q1FY16.
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