From correspondents in Maharashtra, India, 08:31 PM IST

ITC Ltd, which has diversified interests in tobacco products, fast moving consumer goods (FMCG) and hospitality business posted a net profit of $178.4 million for the second quarter up 4.1 percent year-on-year from $171.3 million in the same period last year.

The company's net revenue went up from $773 million in the second quarter of 2007-08 to $883 million.

ITC's net profit for the half year ending Sep 30 stood at $344.75 million as a little less lower than $345.27 million for the corresponding period last year.

During the quarter, the company invested $13.3 million in the formation of its new subsidiary company, ITC Infotech India Ltd, dealing in IT and IT-enabled services.

(Staff Writer, © IANS)