Shares of ITC today rose over 2 per cent as the company has reported 7.37 per cent rise in standalone net profit for the first quarter ended June 30.

The stock after making a positive opening further gained 2.16 per cent to Rs 294.90 on the BSE. On the NSE, shares of the company went up by 2.14 per cent to Rs 294.75.

Diversified conglomerate ITC had yesterday reported 7.37 per cent rise in standalone net profit at Rs 2,560.50 crore for the first quarter ended June 30, 2017, driven mainly by revenue growth from FMCG and cigarettes business. The company had posted a net profit of Rs 2,384.67 crore during April-June quarter a year ago, ITC said in a BSE filing.

ITC’s net sales during the period under review was up 4.29 per cent at Rs 13,722.21 crore against Rs 13,156.68 crore in the corresponding quarter of the previous fiscal.