Pepsi India bottler Varun Beverages on Monday reported a nearly 77 per cent increase in its quarterly profit, as it saw double-digit volume growth across domestic and international markets even as higher costs of essentials weighed on consumers. Consolidated net profit increased to 1.32 billion rupees (USD 15.9 million) in the fourth quarter ended 31 […]
The Monetary Policy Committee of the Reserve Bank of India (RBI) in its February review meeting is expected to again put a pause on the repo rate, according to SBI Research. In its December meeting, the RBI unanimously decided to keep the policy repo rate unchanged at 6.5 per cent, thus maintaining the status quo […]
The first mainboard initial public offering (IPO) of the month, Apeejay Surrendra Park opened for the public subscription on 5 February in an attempt to raise Rs 920 crore with the combination of fresh issuance and offer-for-sale (OFS) component. The issue raised Rs 409 crore in the anchor round on 2 February, whereas the retail […]
Manufacturers of pan masala, gutka and similar tobacco products will be subject to penalties of up to Rs 1 lakh if they fail to register their packing machinery with GST authorities, effective 1 April. The aim is to combat revenue leakage in the tobacco manufacturing sector, as per amendments introduced in the Finance Bill, 2024, […]
Fast-moving consumer goods (FMCG) businesses have reported single-digit volume growth with improved margins in most divisions during the December quarter, boosted by dipped commodity inflation, yet the operational environment remained tough. Some firms also reported a drop in topline numbers as they passed on the advantages of decreased commodity costs to consumers, affecting their gross […]
Amid the ongoing controversy, the Confederation of All India Traders (CAIT) has issued a cautionary advisory to Indian traders to switch from Paytm to other payment apps in light of Reserve Bank of India (RBI) restrictions. Recently, RBI in the exercise of its powers under section 35A of the Banking Regulation Act, 1949, had directed […]
“More business customers are moving from offline to online procurement for transparent pricing, easy access to quantity deals, better control of the spending and visibility,” says Suchit Subhas The company is estimating that customers adopting credit facilities will generate more than 25 per cent of sales in the next three years, said Suchit Subhas, Director, […]
Bikaji Foods International (Bikaji) on Friday reported a rise of 15 per cent in consolidated net profit of Rs 45.99 crore for the quarter that ended 30 September 2023 as against the PAT of Rs 39.99 crore in the same period of last fiscal, the company said in a BSE filing. The company’s total revenue […]
Delhivery posted its first-ever quarterly profit since listing on Friday, helped by healthy demand for online shopping during the festive season. Consolidated profit for the three months ended 31 December was Rs 11.71 crore compared with a loss of Rs 196 crore a year earlier, the company said in an exchange filing. “We are satisfied […]
Tyremaker Goodyear India reported its first quarterly profit drop in five quarters on Friday, hurt by subdued demand in its farm segment. The Indian unit of US-based Goodyear Tyre said its standalone profit fell 10.5 per cent to Rs 21.86 crore in the third quarter. Revenue from operations fell 14.2 per cent to Rs 591 […]
