ITC shares down over 3% post earnings

Shares of diversified group ITC on Monday fell by over 3% after the company's March quarter earnings failed to cheer investors. The stock lost 3.12% to Rs 318.20 on the BSE. At the NSE, it slipped 3.34% to Rs 318.15.

The stock was the biggest loser among Sensex and Nifty scrips.

ITC on Friday reported a modest 3.65% increase in standalone net profit at Rs 2,361.18 crore for the fourth quarter ended March 31, 2015 owing to muted growth in agri segment revenue.

The Kolkata—headquartered firm had posted a net profit of Rs 2,278.01 crore in the January-March quarter of 2013—14.

Net sales rose marginally by 0.47% to Rs 9,188.25 crore in the quarter under review from Rs 9,145.14 crore in the year—ago period, ITC had said in a BSE filing.

Revenue from the total FMCG business including cigarettes increased by 6% to Rs 6,777.21 crore, from Rs 6,393.29 crore in the corresponding quarter in 2013-14.

During the quarter, revenue from cigarettes increased by 3.23% to Rs 4,210.7 crore, from Rs 4,078.78 cror in the corresponding quarter in 2013-14.

Meanwhile, in the broader market, the BSE benchmark Sensex was trading at 27,827.17, down 130.33 points.