Shares of ITC Limited surged nearly 4% in Monday's trading session, crossing the ₹290 mark after the FMCG and cigarettes major announced its Q1 FY27 earnings. Despite reporting a decline in quarterly profit, investors cheered the company's strong revenue growth, resilient business performance, and positive outlook for its diversified businesses.
The stock opened at ₹284.45 and climbed to an intraday high of ₹292.55, emerging as one of the top gainers in the market.
ITC Share Price Rallies After Q1 Results
ITC shares witnessed strong buying interest following the release of its June quarter earnings.
ITC Share Price Performance
Opening Price: ₹284.45
Day's High: ₹292.55
Intraday Gain: Nearly 4%
The rally came despite weaker standalone profitability, as investors focused on the company's strong operational performance and growth across key businesses.
ITC Q1 FY27 Results: Key Highlights
For the April–June quarter (Q1 FY27), ITC reported:
Standalone Performance
Net Profit: ₹3,578.8 crore
Profit Decline: 27.1% YoY
Revenue: ₹16,908 crore
Revenue Decline: 14.4% YoY
Although standalone earnings declined, the company continued to benefit from the strength of its diversified business portfolio.
Consolidated Results Show Strong Revenue Growth
On a consolidated basis, ITC reported:
Net Profit: ₹4,508.79 crore
Decline: 15.6% YoY
Revenue from Operations: ₹29,409.82 crore
Revenue Growth: 27.82% YoY
Operating Income: ₹29,523.30 crore
Growth: 27.64% YoY
Total Income: ₹30,179.01 crore
Total Expenses: ₹24,809.95 crore (up 48% YoY)
The decline in profit was largely attributed to higher operating costs and increased expenses during the quarter.
Businesses Driving ITC's Growth
ITC highlighted the strong performance of several group companies, including:
ITC Infotech
Surya Nepal
Sproutlife Foods
ITC Hotels
The diversified nature of ITC's business continues to support revenue growth despite margin pressure in certain segments.
Why Are ITC Shares Rising?
Market participants appear to be focusing on the company's long-term growth prospects rather than the temporary decline in quarterly profits.
Positive factors supporting the stock include:
Strong growth in consolidated revenue
Robust performance across non-cigarette businesses
Continued expansion of ITC Hotels and FMCG segments
Healthy contribution from ITC Infotech
Investor confidence in the company's diversified business model
What Could Be the Next Target for ITC Shares?
After reclaiming the ₹290 level, technical analysts believe ITC could witness further upside if buying momentum continues.
Key Technical Levels
Immediate Resistance: ₹295–₹300
Next Major Target: ₹305–₹315
Immediate Support: ₹282–₹285
A sustained move above ₹300 could strengthen bullish sentiment and pave the way for higher levels, while failure to hold above ₹290 may invite short-term profit booking.
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