The FMCG-major ITC surpassed analysts estimate during its second quarter of FY19 (Q2FY19). ITC posted a net profit of Rs 2,954.67 crore which was up by 4.82% from Rs 2,818.68 crore in the corresponding period of previous year. Q2FY19 net profit however surged by by 11.93% as against Rs 2,639.84 crore in the preceding quarter.  A Bloomberg poll of analysts had predicted net profit of ITC to come at Rs 2,880 crore in Q2FY19. 

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On the other hand, ITC's revenue from operations was at Rs 11,272.51 crore higher by 3.66% compared to Rs 10,874.5 crore a year ago same period. Also it was up by 15.45% from Rs 9,763.92 crore in Q1FY19. 

The company's cigarette business recorded revenue of Rs 5,026.06 crore which was gradually down by 1.98% as against Rs 5,127.59 crore in Q2FY18. 

For six months period of FY19, ITC saw revenue of Rs 22,147.1 crore dropping by 6.01% from Rs 23,564.30 crore in H1FY18. Meanwhile net profit was at Rs 5,773.35 crore increasing by 11.02% from Rs 5,200.3 crore recorded a year ago same period. 

After the result announcement, the share price of ITC slipped by nearly 3%, however, was trading at Rs 280.25 per piece down by Rs 7 or 2.44% at around 1510 hours on BSE.