The company, nearly 25 percent-owned by British American Tobacco, said in a statement net profit rose to Rs 22.78 billion ($389.37 million) for the quarter ended March 31 from 19.3 billion a year earlier. That was slightly ahead of the 22.16 billion rupees analysts had forecast, according to Thomson Reuters Starmine Estimates.
Gold price tumbled by Rs 1,220 to close at a 10-month low of 28,320 per ten gram on the bullion market during the week as stockists indulged in offloading positions after the RBI eased curb on imports amid weak global trend and appreciating rupee.
The benchmark BSE Sensex and NSE Nifty moved up by more than two per cent during the week logging their all-time closing peaks on hectic buying by investors amid hopes of reforms from the incoming Narendra Modi-led government.
Continuing its losing streak for the fourth straight day, gold prices lost another Rs 300 to trade at fresh 10-month low of Rs 28,250 per ten gram in the national capital today as stockists engaged in reducing positions.
At the Interbank Foreign Exchange (Forex) market, the domestic currency commenced slightly better at 58.45 a dollar from previous close of 58.47. It then moved erratically in a range of 58.33 and 58.56, before settling at 58.52, a net fall of five paise or 0.09 per cent.
Retreating from 11-month high level, the Indian rupee today depreciated five paise to end at 58.52 against the US dollar but managed to clock the fourth successive weekly rise.
The benchmark BSE Sensex surged 319 points, clocking its biggest rise in over a week, to end at a new closing peak of 24,693.35 today boosted by a spike in State Bank of India (SBI) after its earnings and heavy buying in power shares on hopes of a big push under the incoming Narendra Modi-led government.
Investors heavily bought into power stocks, including NTPC and Tata Power, on reports that Modi-led NDA government is likely to harness solar power and give a fillip to development of offshore wind energy. Adani Power, Reliance Power, Power Grid and JP Power also hogged the limelight.
The 30-share Sensex opened on a strong footing and rose to day's high of 24,745.86 points. It concluded the session at 24,693.35, a new record at closing, by rising 318.95 points or 1.31 per cent. It surpassed previous record closing of 24,376.88 reached on May 20.