New Delhi, May 22 -- Shares of ITC declined 1.5% on Friday after the FMCG major reported a sharp decline in consolidated net profit for the March quarter of FY26, primarily due to a high base effect arising from a one-time gain recorded in the previous year following the demerger of its hotels business. The board of directors of the company recommended a final dividend of Rs.8 per equity share for FY26.

The stock fell as much as 1.5% to its day's low of Rs.303.30 per share on BSE.

The company posted a consolidated net profit of Rs.5,469.74 crore for Q4FY26, marking a decline of 72.4% on a year-on-year basis compared with Rs.19,807.88 crore reported in the corresponding quarter of the previous financial year.

The steep fall in reported ...