Omnichannel beauty retailer Sugar Cosmetics recorded a noteworthy 89% year-on-year surge in operational revenue for FY23, reaching Rs 420 crore, while maintaining a steady net loss of Rs 76 crore. The Mumbai-based company witnessed a substantial 68% increase in total expenses to Rs 505 crore, mainly attributed to heightened expenditure on stock-in-trade acquisitions due to […]
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 […]
Hindustan Unilever, the FMCG manufacturer has announced that it has received Goods and Services Tax (GST) demands and penalties totalling Rs 447.5 crore from the authorities. The company has received a total of five orders passed from different zones of GST officials over issues such as disallowance of GST credit, salaries including allowances paid to […]
The gross goods and services tax (GST) collection increased by 12 per cent year on year from April to December 2023, reaching Rs 14.97 lakh crore when compared to the previous year’s collection of Rs 13.40 lakh crore during the same period. The average monthly gross GST collection for the first nine months of this […]
Unilever Plc, the FMCG major, has aggressively streamlined its product portfolio, emphasising approximately 30 “power brands” in its pursuit of growth under new CEO Hein Schumacher, who assumed the role in July. These power brands, including Dove, Lux, Pond’s, Surf, Sunsilk, Lifebuoy, Horlicks, Vaseline, Knorr, Rexona, Closeup and Pepsodent, signify the company’s targeted focus, as […]
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. […]
Chinese tech giant Huawei Technologies is reportedly expected to exceed its revenue by USD 98.5 billion for 2023, indicating a 9 per cent YoY revenue growth from last year, according to a media report on Friday. The forecast further suggested Huawei’s rebounding after US sanctions in 2019 that damaged some of its business lines. The […]
Hindustan Coca-Cola Beverages (HCCB), the largest bottling partner of Coca-Cola India, has formalised a Memorandum of Understanding (MoU) with the Gujarat government, affirming a substantial investment of Rs 3,000 crore in the state. The announcement precedes the Vibrant Gujarat Global Summit 2024 scheduled for 10-12 January 2024. The major investment is earmarked for the establishment […]
Motisons Jewellers will open its initial public offering (IPO) for subscription from 18 December to 20 December, with the allocation to anchor investors scheduled for December 15. The Jaipur-based retail jeweler, which filed its Draft Red Herring Prospectus (DRHP) in March and obtained regulatory approval in September, raised Rs 33 crore in a pre-IPO funding […]
Dell Technologies reported third-quarter revenue below estimates on Thursday, attributing it to a slower-than-expected recovery in the hardware and software market. The company’s shares declined by 4 per cent after the announcement. The overall market witnessed a demand slowdown following the surge in electronic device sales during Covid lockdowns, driven by increased work-from-home measures. In […]
