Voltas Q2 Profit Slumps 74% Hit By GST Cut, Weak Summer Demand
Voltas reported a 74% drop in Q2 profit as weak summer demand and GST-linked purchase deferrals hit sales, with revenue and margins falling short of estimates.
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Elista Enters Fridge Market In India, Targets Rs 500 Cr Revenue By 2025
- by BW Retail World Bureau
- March 14, 2024
Elista, a producer of electronics, home appliances, IT and mobile accessories, has entered the refrigerator market with a range of single-door refrigerators, the company announced in a media release on Tuesday. The refrigerator business in India is rapidly expanding, with a compound annual growth rate (CAGR) of 10.2 per cent expected between 2023 and 2031. […]
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Voltas Net Loss Shrinks To Rs 27.6 Cr, Total Income Up 32% In Q3 FY24
- by BW Retail World Bureau
- January 31, 2024
Voltas, a Tata Group-owned consumer appliance firm, recorded a consolidated net loss of Rs 27.60 crore in the third quarter (Q3) ended December 2023, compared to a net loss of Rs 110.49 crore in the same time the previous fiscal year, according to a BSE filing. However, the company’s overall income increased by 31.8 per […]
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Blue Star Revenue Up 25% To Rs 2,241 Crore In Q3 FY24
- by BW Retail World Bureau
- January 31, 2024
Blue Star, which manufactures air conditioners and commercial refrigeration systems, recorded a 72 per cent increase in total net profit to Rs 100.46 crore in the third quarter that ended December 2023, boosted by strong sales over the Christmas season. According to a regulatory filing from Blue Star, the business had a net profit of Rs […]
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Indian Electronics Players Seek Export Push & Tax Cuts In Budget
- by Amisha Sharma
- January 31, 2024
Indian electronics players seek tax reductions and export opportunities to sustain the ‘Made in India’ momentum and compete with challenges posed by Chinese brands The spike in ‘Made in India’ items seen in the Indian sector last year, combined with the exit of numerous Chinese brands, has created opportunities for local players. However, competing directly […]