Shares of ITC on Monday rose sharply by 7.5 per cent after the company reported a 5.67 per cent increase in stand-alone net profit for the fourth quarter ended March.

The stock surged 7.51 per cent to Rs 354.75 on BSE. On NSE, it soared 7.31 per cent to Rs 354.50.

The stock was the top performer among the blue-chips on both Sensex and Nifty during the morning trade.

The diversified group ITC on Friday reported a 5.7 per cent increase in stand-alone net profit at Rs 2,495.20 crore for the fourth quarter ended March amid sluggish demand environment.

The Kolkata-based company, which has announced plans to issue one bonus share for every two existing ordinary shares, had posted a net profit of Rs 2,361.18 crore during January-March a year ago.

Net sales were up 9.5 per cent at Rs 10,062.4 crore for the quarter under review as against Rs 9,188.3 crore in the previous fiscal, ITC had said in a BSE filing.

Revenue from the total FMCG business, including cigarettes, increased 8.35 per cent to Rs 7,343.3 crore, from Rs 6,777.2 crore in the same quarter of 2014-15.

During the quarter, revenue from cigarettes increased 10.2 per cent to Rs 4,639.2 crore, from Rs 4,210.7 crore in the year-ago period, although it continued to be impacted by illegal trade.