India’s ITC reported a 27 per cent fall
in quarterly profit on Friday, as fresh cigarette tax hikes this
year squeezed margins, while price hikes weighed on demand for
pricier brands.
The consumer goods major, home to brands such as Aashirvaad
flour and Bingo chips, said profit fell to ₹3,579 crore
($375.24 million) in the first quarter ended June 30, from ₹4,911 crore
a year earlier.
The Middle East war has saddled corporations worldwide with
higher costs, while cigarette makers including ITC and Godfrey
Phillips, which sells Marlboro in India, face a
challenge of their own due to steep tax hikes.
For British American Tobacco-backed ITC, home to
brands including Gold Flake and Wills Navy Cut, total expenses
soared to ₹22,829 crore from ₹15,188 crore
during the quarter.
Overall revenue, however, climbed to ₹26,943 crore
from ₹21,070 crore .
($1 = 95.3800 Indian rupees)
Published on July 31, 2026
