SynopsisITC is expected to report a weak Q2, with brokerages forecasting an 8% decline in cigarette volumes and a drop of up to 29% in cigarette operating profit following tax hikes.
Nuvama expects consolidated revenue to fall 3% YoY and EBITDA to decline 20%.
Growth in FMCG and paper businesses could provide some cushion against the pressure.
Synopsis
ITC is expected to report a weak Q2, with brokerages forecasting an 8% decline in cigarette volumes and a drop of up to 29% in cigarette operating profit following tax hikes. Nuvama expects consolidated revenue to fall 3% YoY and EBITDA to decline 20%. Growth in FMCG and paper businesses could provide some cushion against the pressure.
