Oct 27 (Reuters) - India’s biggest cigarette maker ITC Ltd posted a nearly 6 percent rise in quarterly profit on Friday, helped by lower costs.
Profit rose to 26.40 billion rupees ($406.03 million) in the second quarter ended Sept. 30, from 25 billion rupees a year earlier, the company said. bit.ly/2lmhURC
Analysts on average had expected a profit of 26.44 billion rupees, according to Thomson Reuters Eikon data.
The company, which also makes Sunfeast biscuits and Classmate stationery, said its expenses for the quarter fell about 39 percent to 63.14 billion rupees.
$1 = 65.0200 Indian rupees Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Gopakumar Warrier