Amazon posted its third quarter revenue rose beating street estimates. The tech giant revenue increased by 13 per cent to USD 143.1 billion, which is USD 2 billion higher than analyst expectations of USD 141 billion, Reuters reported Amazon’s net income rose to USD 9.9 billion in the third quarter from USD 2.87 billion in […]
Kitchen and home appliance maker TTK Prestige reported more than 27 and 15 per cent decline in its profit and revenue, respectively, for the July-September 2023 period on account of subdued demand for consumer durables, despite softening inflation. The Bengaluru-headquartered firm’s standalone quarterly PAT plunged almost a third Y-O-Y to Rs 62.17 crore. Its standalone […]
Ola Electric, the Bengaluru-based electric vehicle (EV) manufacturer, has successfully closed a major funding round, raising Rs 3,200 crore. The investors leading this infusion of capital include Temasek and the State Bank of India. This substantial investment is set to drive Ola Electric’s ambitious plans for the future. A significant portion of the funds is […]
Asian Paints on Thursday reported a 53.31 per cent year-on-year (YoY) increase in its consolidated net profit at Rs 1,232.39 crore for the second quarter of the financial year 2023-24, compared to Rs 803.83 crore in the same quarter last year.year-ago period. However, the profit declined by 21.74 per cent. The company’s consolidated revenue slightly […]
Jubilant FoodWorks, a food service company, on Wednesday reported a 26 per cent loss in consolidated net profit at Rs 97.20 crore for the September quarter of FY24 compared the previous year at Rs 131.52 crore, The total revenue of the company increased by 5. 15 per cent at Rs 13,68.63 crore from Rs 1,301.48 crore […]
Honasa Consumer, the parent of skincare brand Mamaearth, has posted a loss of Rs 151 crore in the fiscal year 2023 (FY23), against a profit of Rs 14.4 crore last year. The Delhi-based company, Mamaearth, experienced a significant increase in operating revenue in FY23, reaching Rs 1,493 crore compared to Rs 943 crore in the […]
Honasa Consumer, the parent company of brands such as Mamaearth, The Derma Co, and BBlunt, aims to issue one of the most anticipated IPOs in the Indian consumer category on 31 October, according to several industry sources. The fast-growing D2C (direct-to-consumer) firm, which operates in the beauty, babycare, and skincare areas, was the first unicorn […]
The Retail Direct Portal of the Reserve Bank of India (RBI) now permits individual investors to participate in Floating Rate Savings Bonds (FRBs), 2020 (Taxable), thereby diversifying its range of available products. According to the Central Bank’s statement, “In its endeavour to expand the basket of products offered through the Retail Direct Portal, Reserve Bank […]
Foxconn, Apple’s largest contract electronics manufacturer, shares dropped by three per cent on Monday after the Chinese tax officials launched a probe into the land used by the company. Chinese state-sponsored media said some of Foxconn’s key subsidiaries in China were the subject of tax audits and that China’s natural resources department had also conducted […]
Zomato-owned instant ecommerce grocery delivery platform Blinkit revenue has increased to a by 207 per cent i.e., a rise of Rs 724 crore but parallelly the net loss has widened to Rs 1,190 crore in FY23. This financial year represented Blinkit’s initial full year of operations following its transition to the quick commerce sector in […]
