Myntra, the fashion platform owned by Flipkart, announced on Tuesday that it has achieved operational profitability since October last year. According to the company, its marketplace entity has been earnings before interest, taxes, depreciation and amortisation (EBITDA) positive since the last quarter of calendar year 2023, marking the first time the firm has achieved this […]
Harsh Chaudhary, former Chief Experience Officer (CXO) of monetisation at Meesho, the low-price e-commerce platform, has departed from the firm to join Flipkart, a direct competitor of Meesho. Chaudhary’s move follows his two-year tenure at Meesho and marks a significant addition to Flipkart’s leadership team. As per media reports, Chaudhary’s departure adds to a string […]
India’s alcohol beverage industry is expected to see continued growth in the upcoming fiscal year, according to a recent report by credit rating agency Icra. The report, based on a sample set of domestic alcohol beverage companies (alcobev), projects revenue growth of 8 to 10 per cent in FY2025. Icra anticipates a particularly strong performance […]
Beyours, a player in the direct-to-consumer fashion segment, reported a revenue leap from 6 crore last year to 14-15 crore this year and has set an ambitious target of 50 crore for the next fiscal year. This growth trajectory is backed by its robust sales strategy, with 90 per cent of sales generated through the […]
Big Basket, an online supermarket owned by the Tata Group, plans to go public in 2025 after becoming profitable, the news agency PTI reported citing a top official. The Bengaluru-based firm, which is part of Tata Digital, will become profitable in the next 6-8 months after the newly announced ‘BB Now’ vertical begins to generate revenue, […]
Coffee Day Enterprises reported its Q3 FY24 results on 13 February 2024. The topline climbed by 5.36 per cent, and the profit reached Rs 69.18 crore. It is worth noting that Coffee Day Enterprises reported a loss of Rs 402.06 crore in the previous fiscal year over the same period. In comparison to the previous […]
Globe Textiles India Limited (GTIL), a frontrunner in the textile industry engaged in manufacturing, supply, and trading of a wide array of textile and apparel products, including Denim jeans, Shirting fabrics, and cotton printed fabrics, has announced its ambitious plans to acquire Globe Denwash through the purchase of shares. According to a press release, this move […]
Aditya Birla Fashion and Retail (ABFRL), on Wednesday, reported a rise of 16 per cent in consolidated revenue from operations in the third quarter ended December 2023 despite muted demand, it said in a regulatory filing. In Q3 FY24, the company recorded consolidated revenue from operations at Rs 4,167 crore compared to Rs 3,589 crore […]
FMCG major Emami reported an 11.88 per cent increase in consolidated profit after tax to Rs 260.65 crore for the December quarter of 2023-24, aided by improved margins due to lower input prices. According to the company’s regulatory filing, the business had a net profit of Rs 232.97 crore in the October-December fiscal year 23. […]
Honasa Consumer, which owns and runs Mamaearth, recorded a 265 per cent increase in total net profit of Rs 26 crore for the quarter ended December. It cost Rs 7.1 crore a year ago. Revenue from operations in the third quarter climbed 28 per cent year on year (YoY) to Rs 488 crore, up from […]
