ITC, a FMCG major in India, announced a marginal rise in standalone net profit for the quarter ended September 2015. During the quarter, the profit of the company rose 0.25% to Rs 24.31 billion from Rs 24.25 billion in the same quarter previous year.

Analysts had expected the company's net profit at Rs 25.50 billion on revenues of Rs 94.20 billion with operating profit of Rs 36.75 billion and margin expansion of 30 basis points.

Revenues for the quarter declined marginally 0.82% to Rs 93.03 billion, compared with Rs 93.80 billion for the prior year period. The main reason in decline of the company's revenue was slow growth in cigarette business. 

The company's cigarette revenue was up 1.6% to Rs 43.17 billion. The sharp decline in agri business and paper business hurt the company's profit significantly.

Operating margin for the quarter stood at 38.27 percent as compared to 36.10 percent for the previous year period. Operating Income for the quarter was Rs 35,60 billion, compared with Rs 33.86 billion in the previous year period.

Earnings per share for the quarter stood at Rs 3.

Shares of the company declined Rs 15.35, or 4.39%, to trade at Rs 334.40. The total volume of shares traded was 518,876 at the BSE (1.02 p.m., Friday).