High taxes on cigarettes hits ITC Q1, net slips 27% to ₹3,579 crore
The sharp decline on profit came on the government’s decision to increase excise duty and other taxes on cigarettes. Since this business contributes a major share of the company’s profit, the higher levies weighed on the margins.
· 7/31/2026, 2:31:36 PM· 2 min read
The sharp decline on profit came on the government’s decision to increase excise duty and other taxes on cigarettes. Since this business contributes a major share of the company’s profit, the higher levies weighed on the margins.
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