The operator of QSR Chain Burger King in India, Restaurant Brands Asia, on Monday, the company posted a reduced third-quarter loss, helped by robust holiday sales. The company’s consolidated net loss narrowed to Rs 36.18 crore (USD 4.4 million) in the three months ended 31 December from Rs 50.42 crore a year earlier. Nonetheless, it […]
Tobacco maker Godfrey Phillips India reported higher third-quarter profit on Monday, driven by growth in its core market and easing expenses. The company reported a consolidated net profit of Rs 212 crore for the quarter ended 31 December, up 6.6 per cent from last year. Total revenue from operations rose 34 per cent to Rs […]
Zero-duty import of Gold by a large PSU company has come under the scanner, sources told BW. India levies a 14.35 per cent duty on the import of Gold Dores (unrefined gold) but some refiners like MMTC, a public sector entity and PAMP, a Switzerland company, were importing dores from least developed countries (LCDs) on […]
In an exclusive conversation with BW Businessworld, Vikas Gupta, CEO of the education and stationary products business division, of ITC Ltd enlightened the current scenarios and plans of the Stationery market. The global stationery market stands at 26.06 billion US dollars in 2023 and is predicted to reach 39.32 billion by 2033, as stated in […]
Ecommerce order item volume increased by 18.7 per cent during the Republic Day sale in 2024, as compared to last year’s sale period, according to a report by Unicommerce. The company analysed order items processed through its platform during the nine days (13 to 21 January) of the Republic Day Sale. The growth of ecommerce […]
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) […]
Indian food delivery startup Swiggy is set to lay off 6 per cent of its workforce as it seeks to reduce costs and increase profitability ahead of its initial public offer (IPO), the Economic Times reported on Thursday. The job cuts would impact about 350-400 employees across teams including technology, call centre, and corporate roles, […]
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 […]
India’s coffee exports declined in 2023, falling 5.4 per cent to 3.77 lakh tonne compared to 2022, data from the Coffee Board of India revealed. This dip was primarily driven by a 15 per cent decrease in Robusta shipments, which fell to 1.87 lakh tonne. However, Arabica coffee shipments bucked the trend, registering a 5.79 […]
Samsung is primarily expecting two sets of audience to come to this store, including the premium and super-premium consumers In the digital realm when shopping is just a click away, Samsung, the global consumer electronics company, inaugurated its first Online-to-Offline (O2O) lifestyle store in Mumbai at Jio World Plaza Mall on Tuesday. The company said, […]
