ITC shares gain 3% after Q1 results. Here’s why Nomura upgraded the stock to Buy
Shares of ITC gained 2% to Rs 288.40 on the BSE after the FMCG major reported a 27% year-on-year (YoY) decline in standalone net profit for the April-June quarter of FY27. Profit stood at Rs 3,579 crore, compared with Rs 4,911 crore in the corresponding quarter last year.Revenue, however, remained strong, rising 28% YoY to Rs 26,943 crore from Rs 21,070 crore a year ago. Total income increased 27% YoY to Rs 27,589 crore, while total expenses jumped more than 50% YoY to Rs 22,829 crore. EBITDA declined 28% YoY to Rs 4,514 crore during the quarter.ITC share price: Buy, sell or hold after Q1 resu