FMCG conglomerate ITC, has posted a 17% rise in its net profit for first quarter ended June 30.

The diversified business house has posted a net profit of Rs 878.70 crore in its latest quarter, as compared to Rs 748.67 crore in the corresponding quarter a year ago.

In addition, the company has witnessed a growth of 5.14 percent in its total income, which grew to Rs 4,220.49 crore as against Rs 4,014 crore, same period last year. Mitesh Thacker, a leading technical analyst of Miteshthacker. com is of the view that above Rs 235, ITC has a target of Rs 275. Ahead of good results, the scrip of the company today settled the day at Rs 230 on BSE, up 6% compared to previous close of Rs 218.