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Last Updated : Feb 12, 2020 05:56 PM IST | Source: Moneycontrol.com

ITC raises cigarette prices by up to 20%: Report

Marlboro-maker Godfrey Phillips and VST Industries are other cigarette makers who are also expected to raise prices in the next few days.

 
 
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FMCG major ITC has raised cigarette prices by up to 20 percent to counter the impact of an increased National Calamity Contingency Duty (NCCD) announced by Finance Minister Nirmala Sitharaman in Budget 2020.

The Economic Times reported that the increase in the price of the 64-mm stick sizes has been higher than expected. While in the premium segment, the company raised prices by around 10 percent, the price of 69-mm stick sizes has gone up by up to 16 percent.

Marlboro-maker Godfrey Phillips and VST Industries are other cigarette makers who are also expected to raise prices in the next few days.

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Here are the few brands that are now costlier.

A pack of 20 of American Club (cool fresh taste) will now cost Rs 220 as against the earlier Rs 200 while the price of a pack of 10 sticks of Navy Cut Filter RSFT will cost Rs 80 from Rs 69, as per reports.

ITC has introduced the steepest hike of about 20 percent across its brands Goldflake Superstar and Flake Blue Special Filter. A 10-stick pack of Goldflake Superstar will now cost Rs 59, up from the earlier Rs 49 while a 10-stick pack of Flake Blue Special Filter will now cost Rs 60.

The company registered a massive 29.07 percent year-on-year growth in Q3FY20 profit at Rs 4,141.9 crore versus Rs 3,209.1 crore in the corresponding period of the last fiscal.

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First Published on Feb 12, 2020 05:56 pm
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