ITC arm incorporates step down subsidiary in France

ITC said that its wholly owned subsidiary, ITC Infotech India, has incorporated a wholly-owned subsidiary in France under the name ITC Infotech France SAS on 8 February 2023.

ITC France has become a step down wholly owned subsidiary of the company with effect from said date.

ITC is actively engaged in developing and promoting suitable paper and paperboard substrates to replace single-use plastics.

The company's consolidated net profit jumped 23.4% to Rs 5,006.65 crore on 3.7% rise in net sales to Rs 17,585.63 crore in Q3 FY23 over Q3 FY22.

The scrip rose 0.48% to Rs 376.15 on the BSE.

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