Below code is basic code in QTP which seems to work. I am using i2OCR.
systemutil.Run "iexplore.exe", "http://www.i2ocr.com"
'sync the browser
Browser("title:=.*").Sync
Sendkeys("{f5}")
Browser("i2OCR - Free Online OCR").Page("i2OCR - Free Online OCR").WebRadioGroup("i2ocr_options").Select "url" @@ hightlight id_;_Browser("i2OCR - Free Online OCR").Page("i2OCR - Free Online OCR").WebRadioGroup("i2ocr options")_;_script infofile_;_ZIP::ssf19.xml_;_
'imagetest.example.com/files/Image.png
Browser("i2OCR - Free Online OCR").Page("i2OCR - Free Online OCR").WebEdit("i2ocr_url").Set "http://imagetest.example.com/files/Image.png" @@ hightlight id_;_Browser("i2OCR - Free Online OCR").Page("i2OCR - Free Online OCR").WebEdit("i2ocr url")_;_script infofile_;_ZIP::ssf20.xml_;_
Browser("i2OCR - Free Online OCR").Page("i2OCR - Free Online OCR").WebButton("Extract Text").Click @@ hightlight id_;_Browser("i2OCR - Free Online OCR").Page("i2OCR - Free Online OCR").WebButton("Extract Text")_;_script infofile_;_ZIP::ssf21.xml_;_
a = Browser("title:=.*").Page("title:=.*").webedit("class:=i2ocr_iTextArea").GetROProperty("innertext")
msgbox a
If there is better way or better option, please let me know