ITC Limited reported its financial results for the first quarter of fiscal year 2024-25, revealing a standalone net profit of ₹4,917 crore, which fell short of analyst expectations. The company's revenue increased by 7.5%, while volume growth was recorded at 2%. Despite the profit miss, some brokerages have raised their target prices for ITC shares, with estimates reaching as high as ₹580 per share. Following the earnings report, ITC shares experienced a slight decline, opening lower on Friday and trading down by 0.87% at ₹489.45 on the Bombay Stock Exchange. Analysts noted that while the results were largely in line with expectations, expenses and competition posed challenges for the conglomerate, which operates across sectors including cigarettes and hotels.