Profit | Pixr8 News

Industries that have Grown in the Past Year

27Oct By AnkitaNo Comments

BUSINESS

Industries that have Grown in the Past Year

Businesses have been struggling and some will continue to struggle even after the pandemic is over. It is clear that businesses that rely on physical presence didn’t have a great time during this crisis, but there are companies and general sectors that are actually doing better and will continue to boom after the crisis. Online businesses, on the other hand, weren’t hit as hard, in fact, some are doing a lot better. It was pretty clear that the future is online, but it seems that it is even clearer now. Let’s have a look at some of the businesses and sectors that will keep on growing in the upcoming years. Entertainment Entertainment is one area which has in part moved online since the internet became a thing. The scope of entertainment activities that are available online has...

Facebook India’s Net Profit Surges 40% in FY 2017-18

25Dec By Gauri SinghNo Comments

BUSINESS

Facebook India’s Net Profit Surges 40% in FY 2017-18

Facebook India’s profit jumped about 40% to Rs 57 crore in the year ended March 2018, reflecting the increasing adoption of social media in a country where data costs have reduced drastically. The company’s total revenue in India surged 53%. The social media major in a financial statement said that the services it provided to the US parent company helped drive growth. Revenues also represent the money Facebook earned from WhatsApp, the messaging application. The company’s total revenues stood at Rs 521 crore for FY18, compared with Rs 407 crore in the corresponding period a year before. The financial statement said the company faces several tax issues in India. The company has pending disputes related to income tax, VAT, sales tax, customs and excise and s...

Twitter Reports Strong Profit in Q3 but Loses 9 Million Monthly Users

26Oct By Gauri SinghNo Comments

BUSINESS

Twitter Reports Strong Profit in Q3 but Loses 9 Million Monthly Users

The social media major Twitter posted stronger-than-expected profits and revenues in the third quarter. The social network delivered a $789 million profit, which included one-time gains, compared to a net loss of $21 million in the previous year, as revenues increased 29% to $758 million. The record profit included one-time gains from tax and asset valuation adjustments, without which the company's profit would have stood at $163 million for the quarter. However, on the other hand, the company’s average monthly active users witnessed its second straight quarterly drop to 326 million, from 335 million in the previous quarter. Out of these, around 67 million monthly active users is from the United States while 259 million users is from the rest of the world. "We're achieving meaning...

Zomato scales FY18 revenue by 40%, Losses Fall Almost 73%

22Sep By Gauri SinghNo Comments

BUSINESS

Zomato scales FY18 revenue by 40%, Losses Fall Almost 73%

Online food delivery and restaurant discovery firm Zomato has ended the financial year 2017-18 with a 40% growth in revenues at Rs 466 crore. The firm also reduced its losses by almost 73% to come in at Rs 106 crore in FY18 as compared to Rs 390 crore last year. According to the reports, the firm witnessed its standalone revenues grow almost 25% to Rs 388 crore in FY18 from Rs 309 crore last year. Also, the standalone losses for FY18 fell 86% to Rs 78.5 crore this time. “We demonstrated that our business can generate profits — almost throughout the year, we hit EBITDA breakeven globally, across all our business, and while maintaining good growth levels; and then in the last two months, we decided to double down on growth,” said Zomato Founder and CEO Deepinder Goyal. The firm saw ...

IT Firm Hexaware Technologies Profit Up 25.4%

25Jul By AnkitaNo Comments

BUSINESS

IT Firm Hexaware Technologies Profit Up 25.4%

Hexaware Technologies, an IT services firm recently reported a profit after tax of Rs 153.6 cr for the second quarter of 2018, up 14.3% sequentially and 25.4% year on year. The revenues reported by the company are of Rs 1136.7 cr, up 8.4% sequentially and 15.4% YoY. In dollar terms, constant currency revenue was at $169.8, up 4.7% QoQ, and PAT at $22.7M; up 9.5% QoQ, 19.5% YoY Hexaware Technologies is an information technology and business process outsourcing service provider company based in Navi Mumbai, India. Founded in 1990, the company provides software services in, -Banking -Financial Services -Capital Markets -Healthcare -Insurance -Manufacturing -Retail -Education -Telecom -Professional services (Tax, Audit, Accounting and Legal) -Travel -T...

India’s Financial Platform Muthoot Capital Posted Three Fold Profit

18Jul By NitishNo Comments

BUSINESS

India’s Financial Platform Muthoot Capital Posted Three Fold Profit

Non-Banking Financial Company (NBFC) Muthoot Capital said that their net profit jumps three-fold from Rs 6.1 Crore to Rs 20.6 crore in the first quarter ending June 2018 compared to the June 2017 period. The total revenue of Muthoot Capital also registered a growth of 56.2% in 2018. The total revenue increased to Rs 124.2 crore during the quarter ending June 2018, from Rs 79.5 crore during the same period last year. The Company's portfolio includes commercial and consumer finance products, such as vehicle loans, gold loans, loans against property, bonds, deposits, investment products and advisory services. The Company also disburses loans against property, shares, gold exchange-traded funds (ETFs), small and medium enterprises (SME) loans, mortgage loans, leasing and hire purchase l...

10 Business Ideas With Zero Investment and Huge Returns

13Feb By Sabhyata AgarwalNo Comments

Story

10 Business Ideas With Zero Investment and Huge Returns

Remember, when you were a kid, and your mother used to say - "Child, you can be anything in the world, just have faith", she was right. Although while growing up it became clear that not "everything is easy" and there is not "everything one can do". You then decided on a particular field and after getting knocked out by hundreds of people in the race, you gave up only to get stuck between those thousands of ideas of what you can still do and what you can still be. You are now confused. You don't have that idea that can justify your potential, the idea that can give you the life you want, the idea in which there is limited investment and lots of freedom to earn. So, you stay low-key, decide to lay down in the bed all day long, binge watching your favourite show over and again, thin...

Chinese Smartphone Oppo & Vivo Cut 40% Retailers Margin in India

9Jan By NitishNo Comments

News

Chinese Smartphone Oppo & Vivo Cut 40% Retailers Margin in India

Smartphone makers Oppo and Vivo have cut down retail margins by over 40% in India. Both Chinese smartphone companies cut the margin offered to large chains to 14-15% from 23-25%, the executives said. They reduced it to 5-6% for standalone stores from 15-16%. As per the report published in economic times, both Oppo and Vivo have lost about 10,000 sales outlets each. Both had about 70,000 outlets each in the country before the margin cuts and the number of stores selling their phones may fall further, they said. Founded by Chinese billionaire Duan Yongping, Oppo and Vivo together have a 17% share of the market in India. As per the sources, the reason for this cut down is to make the companies profitable. One of the retail chain in Tamil Nadu, Sangeetha Mobiles has stopped selling Oppo ...

SoftBank Suffered Rs 9,000 Cr Valuation Loss From Ola, Snapdeal

10May By AnkitaNo Comments

News

SoftBank Suffered Rs 9,000 Cr Valuation Loss From Ola, Snapdeal

Japanese conglomerate SoftBank Group has booked a valuation loss of USD 1.4 billion or over Rs 9,000 crore on its investments in Snapdeal and Ola as the startups faced heat from foreign rivals with deep pockets. SoftBank said it suffered a loss of USD 1 billion (Rs 6,500 crore) on its investment in Snapdeal, almost matching the money it has put in the home-grown marketplace during 2016-17. "Highly competitive e-commerce market in India has made a trend of the companys business performance lower than initially anticipated," SoftBank said in its earnings statement. SoftBank which has committed investments of USD 10 billion in India has been working on a plan to sell Snapdeal to larger rival Flipkart. While it has got most board members of Snapdeal to agree to the proposal, it is ...

9May By kriti singhNo Comments

BUSINESS

Jio Effect: Airtel Q4 Net Income Plunges 72%, From 1319 Crore to Rs 373.4 Crore

Bharti Airtel today registered a sharp 72 per cent decline in consolidated net income at Rs 373.4 crore for the fourth quarter ended March 2017, hit by "sustained predatory pricing" by newcomer Reliance Jio. Net income stood at Rs 1,319 crore in the same period a year ago. Total revenue fell 12 per cent to Rs 21,934.6 crore, from Rs 24,959.6 crore in the same period last fiscal. The earnings numbers came in after market hours. "The sustained predatory pricing by the new operator has led to a decline in revenue growth for the second quarter in a row. The telecom industry as a whole also witnessed a revenue decline for the first time ever on a full-year basis," Bharti Airtel MD and CEO (India and South Asia) Gopal Vittal said. Pointing towards the "tsunami" of incoming voice traffic...

Reliance Jio Net Loss Jumps to Rs 22.5 Crore in October-March

25Apr By Press Trust of IndiaNo Comments

BUSINESS

Reliance Jio Net Loss Jumps to Rs 22.5 Crore in October-March

Billionaire Mukesh Ambani-led Reliance Jio today reported widening of its net loss to Rs 22.50 crore in the six months to March, a period when the company virtually had no revenue and ran two back-to-back promotional offers. Net loss stood at Rs 7.46 crore in the same period a year ago, Reliance Jio Infocomm said in an exchange filing. Jio, which launched its services in September, had no revenue from operations during October 2016 to March 2017 while other income fell to Rs 0.54 crore from Rs 2.23 crore in the same six months of 2015-16. Jio is an unlisted arm of Reliance Industries and as per law is not required to put out quarterly numbers. Since its launch, it ran two back-to-back offerings of free data and voice and the only charge it took from the 120 million subscribers ...

19Apr By reutersNo Comments

BUSINESS

Bollywood Makes Way For Hollywood Business in India

When “The Fate of the Furious” opened in India this month, the eighth installment of the blockbuster Hollywood franchise romped past the lone homegrown offering at the Easter weekend box office. Period drama “Begum Jaan” was the only Bollywood film that dared to challenge “The Fast and the Furious” car-racing franchise, unlike other Indian films that steered clear of a possible clash despite the dearth of slots in a crowded 2017 release calendar. “It has come to a stage when producers are actually staying away from April 14,” film-maker Vikramaditya Motwane told Reuters in an interview in March. “No big Hindi film will be released on the day because the last one made a 100 crore ($15.5 million) and this one looks like it will make even more than that.” Motwane’s words proved pr...