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The price of cigarettes has risen significantly in recent months, but that has not deterred the country’s smokers. And the prices could rise even further. 

ITC Limited, which controls over three-quarter of India’s cigarette market, showed that it’s revenue from the cigarettes sales in the last nine months fell 15% compared to the same time a year earlier. However, the earnings before interest and tax went up 9%; and it was still below expectations.