Cigarette business weakness drags ITC margins in March quarter

ITC reported reduced profits from its cigarette operations in the March quarter following tax increases. Gains in other segments such as FMCG were insufficient to offset the shortfall. The company has begun adjusting prices and product offerings to safeguard its market position.

ITC's cigarette division faced pressure from higher taxes that reduced profitability during the quarter. Other business areas recorded better results yet could not fully make up for the decline in cigarette earnings. The firm is responding by revising prices and refining its product range to protect share in a competitive market.

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Corporate India posted robust revenue increases during the March 2026 quarter. However, rising input costs and a weaker rupee pressured operating margins across many companies.

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Sun Pharmaceutical Industries posted robust revenue and profit increases for the March quarter. The company noted pressure on EBITDA margins due to higher investments and reduced milestone income. Outlook for the next fiscal year points to steady but moderated expansion.

Large companies recorded stronger net profit growth for the March 2026 quarter, supported by one-off gains. Mid and small-cap firms showed more resilient revenue expansion despite slower overall trends.

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Multi Commodity Exchange of India posted a sharp rise in earnings for the quarter ended March. Consolidated net profit reached 530 crore rupees, up 291 percent from the prior year. The exchange also announced a dividend of 8 rupees per share.

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