Profits | Pixr8 News

11Jun By Gauri SinghNo Comments

BUSINESS

FabAlley Ends Fiscal 2018 with EBITDA Profitability

The Gurugram-based online fashion-forward brand FabAlley has ended the financial year in March 2018 with EBITDA profitability with the help of its massive offline augmentation. The company exited the financial year 2017-18 with gross merchandise value (GMV) of INR 80 Cr ($11.85 Million). FabAlley is the ultimate Indian fashion destination for fashion enthusiasts and lovers, founded in 2012 by Tanvi Malik and Shivani Poddar. 30% of the revenue that accounted for the profits made its way from the offline sources. The offline channels that the company deals with include retailing services with the Future Group’s Central and Shoppers Stop retail outlets among others. “We are the first e-commerce company at our scale to have hit the profitability target. While we want to expand our offline ...

Reliance Jio’s Growth May Trouble Its Competitors

8Jun By Gauri SinghNo Comments

News

Reliance Jio’s Growth May Trouble Its Competitors

Mukesh Ambani-owned Reliance Jio Infocomm has reported a considerable growth in profits in the March-ended financial year. Reliance Jio saw a net profit of Rs 510 crore in the quarter ended March compared with Rs 504 crore in the previous three months. Jio’s operating revenue increased 3.6 percent reaching to Rs 7,128 crore. The older telecom operators in India like Bharti Airtel and Vodafone India have been growing from the very beginning but since Jio has entered the league, they have been facing a tougher competition. “When the dust settles down and subscribers from beleaguered smaller players have been mopped by the Big Three (Vodafone-Idea combine, Airtel and Jio), the tussle for supremacy will resume,” said Sandip Das, senior advisor at telecom consulting firm Analysys Mason. “Wi...

30May By Gauri SinghNo Comments

BUSINESS

One97 Earns Higher Profits Through Its Legacy Business

India’s leading mobile internet company, One97 Communications Ltd. that owns Paytm carries on to make some profits through its inherited mobile non-core services business. According to the detailed financial statement filed with Registrar of Companies (RoC), the profit is considered to be 45% of the total revenue of One97 in the Financial Year 2017. One97, founded by Vijay Shekhar Sharma delivers commerce services and mobile content to millions of mobile consumers through India’s most widely deployed telecom applications cloud platform. The company also invests in early-stage mobile companies through the One97 Mobility Fund (OMF). However, the legacy business of the mobile internet company is the value added services like caller tunes, mobile marketing, talk time recharges etc. The c...

Uber Records Eye-Dropping Profits That Will Be Reinvested in India

25May By Sheldan RungasamyNo Comments

BUSINESS

Uber Records Eye-Dropping Profits That Will Be Reinvested in India

Uber is currently facing a lot of competition with India-based cab aggregator rival Ola, in Australia. However, the global leader in the ride-hailing market’s CEO, Dara Khosrowshahi, reportedly stated that the company will keep investing in its products and technology in emerging markets such as India and Middle East. In an email sent to his employees, the recently appointed CEO stated that the company’s core business has been achieving well and saw the number of trips on the platform increase by 43% while bookings also rose by 55% to $11.3 Bn year-on-year. He further expressed that the company’s net revenue grew by 67% to reach $2.5 Bn while it was able to cut losses by half compared to the previous year. We are deliberately reinvesting our profits. Even with these impressive results,...

Despite Data Leak Scandal, Facebook Profit Increases

26Apr By Sheldan RungasamyNo Comments

News

Despite Data Leak Scandal, Facebook Profit Increases

Facebook recorded a significant increase in profits in the first quarter of 2018, thanks to a growing user base and bigger revenues from ads as the social media giant seems to suffer neither harm nor backlash after the recent data leak of over 87 million Facebook users. The profits the Silicon Valley-headquartered company recorded in the first quarter of this year soared by over 63% from last year to $5 billion, while total revenues witnessed an increase of 49% to $11.97 billion, according to earning figures shared by the company. Facebook’s CEO Mark Zuckerberg, who despite spending most of the last month under pressure from the international community following the news of his company failing to protect data of millions of users from a third-party app, shared a message to investors ...

First Indian Unicorn Startup is Going to Be Profitable in 2016

8Feb By reutersNo Comments

News

First Indian Unicorn Startup is Going to Be Profitable in 2016

Indian restaurant search and food delivery service Zomato, one of only a handful of Indian start-ups to succeed abroad, said on Monday. It had broken even in key markets including India and is on track to make a profit as early as June next year. The result comes as Zomato seeks $200 million in funding, a source close to the group said, in an increasingly tough environment for start-ups. Zomato, which makes money through advertising and its delivery service, said it had hit operational break-even in India, the UAE, Indonesia and three other markets in the Middle East and Southeast Asia. Together, they account for the three-fourths of the company's revenue, co-founder and chief executive Deepinder Goyal told Reuters. "The fundamental model of our business is that in mature markets we...