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Press Trust of India  |  New Delhi 

FMCG ITC Tuesday said it has inked a pact with (BRTC) for supply of sticks, which would be marketed under its Mangaldeep brand.

The Maharashtra-based BRTC will exclusively manufacture and package sticks as per the ITC's specifications, it said.

"This agreement with BRTC is yet another meaningful step in that direction and aims to enhance the competitiveness of the small-scale and cottage units through our complementary R&D-based product development and strengths in trade marketing and distribution," Ravi Rayavaram, ITC chief executive-Agarbatti and Matches Business, said.

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* clocks annual revenue run rate of $1 bn

* Online automobile marketplace Tuesday said it has registered USD 1 billion (around Rs 7,017 crore) run rate in annual gross merchandise value (GMV) for the year 2018.

The company also clocked a net revenue run rate of USD 25 million (about 175 crore), registering a 147 per cent increment in comparison to the net revenue in 2017, it said in a statement.

is a term used in to indicate the gross merchandise value of the products sold through the marketplace over a certain period of time.

"This was our biggest year in terms of scaling our business to new heights and launching so many innovative products such as Quicksell, Credit, Droom Plus, new vehicles sales and expanding our operations internationally," Droom founder and said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 08 2019. 17:25 IST
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