Mumbai, May 21 -- ITC Ltd reported strong March-quarter revenue growth led by its cigarettes business, even as higher taxes on tobacco products and rising geopolitical risks are increasing the importance of its fast-growing consumer goods (FMCG) portfolio.

The Kolkata-headquartered cigarettes-to-atta conglomerate posted a 17% year-on-year (y-o-y) rise in revenue from operations to Rs.23,821 crore and a 6% increase in profit from continuing operations to Rs.5,469.74 crore.

The revenue growth was driven by a nearly 30% rise in cigarette sales and 15% growth in the FMCG-Others business.

However, even as cigarette profits grew 7% to Rs.5,797.30 crore, compared to 4.7% in the year-ago period, the FMCG business saw a more than 1.5x rise in p...