ITC’s cigarette volumes recover to pre-COVID ‘classic, golden’ levels

ITC`s cigarette volumes saw large declines during Covid as a large part of consumption is at work places and driven by mobility.

New Delhi: ITC`s cigarette volumes have recovered to pre-Covid levels allaying concerns on permanent loss of business, Credit Suisse said in a report. Credit Suisse said ITC`s cigarette volumes saw large declines during Covid as a large part of consumption is at work places and driven by mobility, both were constrained in the period. As the post-Covid reopening panned out, cigarette volumes recovered. In 4Q FY21, cigarette volumes were back to pre-COVID levels.