ITC shares decline nearly 3% post Q4 results

Shares of ITC fell nearly 3 per cent Monday despite the company reporting 18.72 per cent increase in standalone net profit for the fourth quarter ended March 31, 2019. The scrip declined 2.64 per cent to close at Rs 289.85 on the BSE. During the day, it dropped 3.25 per cent to Rs 288.

At the NSE, shares dipped 2.83 per cent to close at Rs 289.30. The company Monday reported 18.72 per cent increase in standalone net profit at Rs 3,481.9 crore for the fourth quarter ended March 31, 2019.

It had posted a net profit of Rs 2,932.71 crore in January-March quarter a year ago. The company also announced the elevation of its MD Sanjiv Puri as the Chairman and Managing Director of the company.