ITC’s standalone profit after tax fell 20.1% in the quarter ended Sept. 30, 2026, as cigarette-segment earnings dropped, according to The Financial Express’ account of the company’s Q2 FY2027 results.
The report put profit at Rs 4,137.12 crore, down from Rs 5,175.70 crore a year earlier. Cigarette-segment profit declined 26% to Rs 4,044.49 crore from Rs 5,462.10 crore.
Revenue from operations excluding excise duty rose 3.9% to Rs 20,268.63 crore from Rs 19,501.63 crore, The Financial Express reported. ITC said in an earlier company statement that tax changes effective Feb. 1, 2026, followed the expiry of the GST compensation cess and raised both GST and central excise duty on cigarettes. The company said excise duty is included in gross revenue, making comparisons with earlier periods less direct.
Other businesses recorded growth in the report. Other fast-moving consumer goods revenue increased 19.1% to Rs 7,218.36 crore, and segment profit rose 31.4% to Rs 576.69 crore. The Financial Express said the segment began including Sproutlife Foods on April 1, 2026, affecting the year-over-year comparison. Agri-business revenue rose 12.7% to Rs 4,550.60 crore.
Paperboards, paper and packaging revenue climbed 35.9% to Rs 3,017.45 crore, according to The Financial Express. The outlet said that segment began including Century Pulp and Paper on Aug. 1, limiting the year-on-year comparison.
