Mumbai: ITC Ltd (ITC.NS), India's largest cigarette maker, lagged market forecasts with a 20 percent jump in quarterly net profit.

ITC, India's fifth most valuable company at about USD35 billion, said on Thursday its net profit rose to 16.02 billion rupees for the fiscal first quarter ended June 30 from 13.3 billion rupees a year earlier.

Analysts had expected a 23 percent rise in earnings to 16.3 billion rupees.


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