The FMCG major said its subsidiary ITC Infotech India has incorporated a wholly owned subsidiary in Brazil under the name of ITC Infotech Do Brasil LTDA on 10th October 2022.
ITC Infotech has received registration certificate evidencing incorporation of the subsidiary.ITC is a diversified conglomerate with businesses spanning fast-moving consumer goods, hotels, paperboards and packaging, agribusiness and information technology.
ITC's standalone net profit rose 38.4% to Rs 4,169 crore on 41.9% increase in net revenue to Rs 17,217 crore in Q1 June 2022 over Q1 June 2021.
Shares of ITC rose 1.27% to Rs 330.15 on Wednesday, 12 October 2022.
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