Meesho is gaining traction and share as the fastest-growing ecommerce platform in India, according to the latest report by Alliance Bernstein. The findings reveal that Meesho currently has a GMV run rate of over USD 5 billion and around 120 million average monthly active users. In December 2023, Meesho exhibited 32 per cent year-on-year (YoY) […]
Zomato has obtained a licence from the Reserve Bank of India (RBI) for its subsidiary, Zomato Payments, allowing the company to function as an online payment aggregator. This milestone positions Zomato alongside industry leaders like Tata Pay and Razorpay, expanding its role in the burgeoning digital payment landscape. Zomato Payments was established to conduct business […]
The parent company of Manyavar, Vedant Fashions on Thursday reported a 4.8 per cent rise in consolidated net profit at Rs 157.71 crore in the third quarter (Q3) that ended 31 December 2023, compared to a consolidated net profit of Rs 150.35 crore in the same period of the previous fiscal, the company said in […]
Tech Mahindra reported a 61 per cent decline in its third quarter profit for the financial year 2023-2024 on Wednesday. The company said its profit stood at Rs 510.40 crore against Rs 1,297 crore during the corresponding period in 2022. The tech giant’s revenue stood at Rs 13,101 crore, up by 1.8 per cent on […]
Consumer electrical goods maker Havells India on Tuesday reported a 1.54 per cent increase in its consolidated net profit to Rs 287.91 crore for the third quarter ended December 2023. The company had posted a consolidated net profit of Rs 283.52 crore in the October-December quarter a year ago, according to a regulatory filing from […]
In a strategic move to cut losses and enhance profitability ahead of its anticipated public listing later this year, Swiggy, the popular food and grocery delivery platform, is reportedly contemplating doubling its platform fee on food orders. The proposed increase would see the platform fee surge from the current Rs 5 to Rs 10 per […]
Mumbai-based specialty chemicals company, Pidilite Industries, is gearing up to announce its financial results for the October-December period (Q3FY24) on Tuesday, 23 January. Analysts anticipate a robust operational performance from Pidilite Industries, renowned for brands like Fevicol, Dr Fixit and M-Seal, driven by strong domestic demand during the festive season and growth in the real […]
In a move aimed at further incentivising fresh investments in the manufacturing sector and promoting ease of compliance, the Indian government is reportedly considering extending the lower tax rate of 15 per cent for companies establishing new manufacturing units. As per reports, this extension is likely to be announced in the upcoming Interim Budget scheduled […]
Colgate-Palmolive India on Monday, reported a 35.7 per cent rise in net profit after tax (PAT) at Rs 330.11 crore for the quarter that ended 31 December 2023 as against net PAT of Rs 243.24 crore for the same quarter in the previous fiscal, company said in a regulatory filing. The company’s net sales rose […]
Hyundai Motor’s Indian unit on Friday said it would invest Rs 6,000 crore in the western state of Maharashtra, while also disclosing that it had completed the acquisition of General Motor’s plant in the state. India’s second-largest carmaker by sales did not disclose a deal value for the Talegaon plant or give details of its […]
