South Korea’s Hyundai Motor Co and affiliate Kia Corp forecast on Wednesday that their combined global sales will rise about 2 per cent in 2024, even as last year’s sales fell short of target. The duo sold 7.3 million vehicles in 2023, about 3 per cent less than their combined target of 7.52 million, largely […]
DMart, operated by Mumbai-based Avenue Supermarts, disclosed a standalone revenue of Rs 13,247.33 crore for the quarter ending 31 December 2023, marking a 17.19 per cent surge from the previous year’s Rs 11,304.58 crore. Comparatively, this revenue figure surpasses both the Rs 9,065.02 crore reported in the same quarter of 2021 and the Rs 7,432.69 […]
Meesho’s operating revenue grew by 77 per cent to Rs 5,735 crore for FY 2023 against Rs 3,232 crore in FY 2022, while incurring a loss of Rs 3,247 crore, according to a media report on Friday. The company highlighted that its loss for FY 2023, narrowed by 48 per cent to Rs 1,675 crore. […]
The rating agency Icra expects the margin for tea estates based out of North India (NI) to be significantly impacted in FY2024 due to the double whammy of increase in the cost of production, following the wage rate hikes in West Bengal and Assam and the drop in realisation due to the low export demand […]
Furniture brand Pepperfry reported a revenue of Rs 272.3 crore in the fiscal year ending March 2023, reflecting a modest 10 per cent growth, signalling success in its omnichannel expansion strategy. Despite a marginal increase in total expenses to Rs 474 crore, the Mumbai-based firm narrowed its losses to Rs 187.6 crore from Rs 194 […]
Prosus, the largest shareholder in Swiggy, revealed a 35 per cent reduction in its share of the Indian food-delivery giant’s losses, amounting to USD 208 million for the half-year period ending on 30 September. Prosus, based in Amsterdam and affiliated with the South African conglomerate Naspers, holds a 32.7 per cent stake in Swiggy. Considering […]
Avadh Sugar & Energy, a K K Birla group company, has reported a net profit of Rs 29 crore for the quarter gone by as against a loss of Rs 16 crore in the same quarter the previous year. The total income of the company during the quarter stood at Rs 799 crore, compared to […]
Selling something and building the brand are two different things Says Sidhant Keshwani, Founder of Libas. After finishing his graduation in economics from the University of Manchester, Sidhant Keshwani, took the reins of his family-owned brand, Libas as CEO in 2013. After he took over, the company’s turnover increased many fold from Rs four crore […]
PepsiCo Inc (PEP.O) said on Tuesday its intention to implement “modest” price increases next year, despite several prior hikes. The snacks and beverages giant, home to brands like Mirinda and Gatorade, raised its 2023 profit forecast for the third consecutive time as demand remained resilient. PepsiCo’s move amidst growing concerns that frequent price hikes could […]
Adani Wilmar reported robust double-digit volume growth, driven by strong performance in the Food and Fast Moving Consumer Goods (FMCG) sectors, according to its quarterly business update. However, the edible oil segment faced challenges in the second quarter of FY24. The company achieved a standalone volume growth of 11 per cent in the quarter. The […]
