ITC synchronizes 3% volume growth in cigarettes

Unlike most consumer companies that have reported relatively weak top line numbers, ITC did not come up with any unpleasant surprises, not even in the cigarette business.

1. After a steady increase in excise duty for several consecutive years, the Street was expecting cigarette volumes to plunge. However, these have risen by 3.5 % due to a bunching of demand before the Union Budget Cigarettes volumes will grow 2-2.5 % in FY14, analysts believe.