ITC ups prices of some cigarettes brands by over 10%
Date: 03-09-2013Diversified conglemarate ITC has upped prices of select cigarette brands, Gold Flake and Classic by over 10%, the second hike in as many months. The price of 'Gold Flake Kings' pack, consisting of 10 cigarettes, will now cost Rs 75 against Rs 68 earlier. A pack of 'Gold Flake Lights' consisting of 20 cigarettes too will cost Rs 75 compared to Rs 68 earlier. Likewise, the price of ‘Classic’ pack consisting of 20 cigarettes has gone up by to Rs 150 from Rs 136 previously.
Back in July, the company hiked the prices of its Gold Flake cigarette brand by over 7% at Rs 59 against Rs 55 earlier. Likewise, Gold Flake Premium Filter cigarette prices too were upped Rs 58 from Rs 55 earlier.
The company, which posted a rise of 18.05% in its net profit of Rs 1891.33 crore for the quarter ended June 30, 2013, saw its cigarette business grew by 7.05% to Rs 3,537.39 crore during the first quarter ended June 30, 2013.