ITC Reports 18.5% Drop in Q2 Net Profit Due to Cigarette Taxes

ITC reported a consolidated net profit of ₹4,229.33 crore for the September quarter, down 18.45% from ₹5,186.55 crore a year ago, weighed down by higher cigarette taxes and input costs.

Revenue from operations rose 43.85% to ₹30,578.4 crore, while operating profit from the core cigarette business fell more than 27% year-on-year to ₹3,813 crore.

Higher excise duties and surging key input prices like sugar, copra, and palm oil have contributed to a 34% drop in the company's shares so far in 2026.