India, Jan. 30 -- ITC Ltd on Wednesday reported a 9.9% year-on-year rise in consolidated profit after tax for the quarter ended December 31, 2025, driven by strong growth in its FMCG and cigarette businesses, while warning that a sharp increase in cigarette taxes could fuel illicit trade and hurt farmers, retailers and government revenues.

Consolidated gross revenue rose 7.1% from a year earlier to Rs.19,200 crore, supported by double-digit growth in the FMCG-Others segment and steady momentum in cigarettes. Profit before tax (before exceptional items) increased 8.8% year-on-year to Rs.6,959 crore, while earnings per share stood at Rs.4.06 after accounting for exceptional items of Rs.274 crore.

The FMCG-Others business posted 11% revenu...