ITC reported a 18% growth in net profit at Rs 4,903 crore in Q1. Revenue from operations declined 8% to Rs 15,828 crore. The net profit was higher than an ETNow poll of Rs 4,769 crore, but revenue was lower than the estimated Rs 16,893 crore.
The acquisition is a part of the company s EV strategy to engage in the business of eMaaS (e-Mobility as a Service). This would likely result in enhancing the operational efficiency and synergy, it added. OHM India is envisaged to operate in transportation, logistics operation and management and eMaaS.