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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 ...

This English Premier League Team Earn Record $652 Million Revenue in FY17/18

14Sep By AdityaNo Comments

BUSINESS

This English Premier League Team Earn Record $652 Million Revenue in FY17/18

English champions Manchester City posted record revenues of 500.5 million ($652 million) in a record-breaking 2017/18 campaign on the pitch as Pep Guardiola's men romped to the Premier League title amassing 100 points. City reported profits of 10.4million, a fourth consecutive year of profitability, with wages to revenue ratio falling to 52 percent. "Our journey is not complete and we have more targets to fulfil," said chairman Khaldoon Al Mubarak, who recently celebrated a decade since an Abu Dhabi-backed takeover of the club transformed City's fortunes. "There should be no doubt that we are looking forward to the challenges of the new season and those beyond it with equal commitment and determination to the 10 seasons that came before." Before Sheikh Mansour's takeover, City's reve...

Alibaba’s Q1 Revenue Rose But Investments May Decrease Profits

24Aug By Gauri SinghNo Comments

BUSINESS

Alibaba’s Q1 Revenue Rose But Investments May Decrease Profits

China’s largest e-commerce player Alibaba Group Holding Ltd has shown a huge rise in the first-quarter revenue estimates which is majorly due to the growth in its core e-commerce business. However, the company has stated that the investments in the food delivery business are increasing and might overpower the profits. The revenue of the company increased 61 percent to 80.9 billion yuan ($11.77 billion) in the April-June period, as compared to the average estimate of 80.7 billion yuan in the previous quarter. Though the overall revenue rose, the net income attributable to shareholders decreased 41 percent to 8.7 billion yuan or 3.3 yuan per share. Alibaba’s U.S.-listed shares rose about 3 percent in premarket trade. The sales at the company’s core e-commerce business increased 61 p...

Despite of Data Controversy, Facebook Stock Closes All Time High

7Jul By PriyankaNo Comments

Market

Despite of Data Controversy, Facebook Stock Closes All Time High

The social media giant Facebook stock closes at an all-time record high of USD 203.23. Despite Cambridge Analytica data scam controversy, Facebook is still fetching a good number of returns. Investors are loving the social network more than ever that saw its stocks dipping earlier in 2018 after the scam controversy hits. Facebook revenue projections for 2020 at USD 87.5 billion. The firm currently has Facebook with a buy rating and a price target of $275. "Messenger has been deploying more ads in recent weeks and should be “highly material” to profits. And Instagram has reached 1 billion monthly active users," the company said today. ALSO READ: Online Startup SaleBhai Received BSE Approval for SME IPO After grabbing attention in 2012, Facebook has seen its stock rise...

Travel Co. Yatra’s Losses Fall, Revenue Up By 36%

16Jun By Gauri SinghNo Comments

News

Travel Co. Yatra’s Losses Fall, Revenue Up By 36%

India’s second largest online travel company, Yatra has reported improvements in revenue in its fourth-quarter. With both its businesses air ticketing and hotels and packages, the company is witnessing a steady and considerable growth as of 31st March 2018. The travel company has reportedly posted a loss of Rs 38.09 crore in the recent quarter, as compared with Rs 83.02 crore in the previous quarter. The revenue of the company has risen by over 36% amounting to Rs 328.57 crore compared to the fourth quarter of last fiscal. Dhruv Shringi, CEO of Yatra stated, “The macro factors in India continued to be favourable. Domestic air traffic was up 24% year-over-year in the March quarter. We expect to see sustained growth ahead over the mid to near-term as we see an expansion happening in the ...

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...

Kishore Biyani’s Future Group to Start Door-to-Door Milk Delivery

7Jun By Gauri SinghNo Comments

BUSINESS

Kishore Biyani’s Future Group to Start Door-to-Door Milk Delivery

The Mumbai-based, Kishore Biyani owned ‘Future Group’ soon plans to begin the door-to-door delivery of dairy products like milk, eggs and bread every morning to its customers. The service will be inaugurated in the coming two weeks in the metro cities as of now, but will surely reach to other cities later. The milk delivery services have been recently observing a boost in the e-commerce sector and by the investors. The Future Group led milk delivery service can be availed simply by placing an order through a mobile app called Easyday, and the outlets will deliver the specified products within 2-3 km radius. The retail group also provides the customers with a membership-based Easyday Club where they can register at Rs 999 per year and can enjoy offers on purchases for about 10% discou...

1Jun By Gauri SinghNo Comments

INDIA

India’s GST Revenue Collection Crosses 94,000 Crore

Hasmukh Adhia, the Union Finance Secretary has announced that the revenue collection from the total goods and services tax (GST) for the month of May amounted to Rs 94,016 crores. The news became trending on Friday after the statement given by Adhia. In this context, he quoted, "The total GST collection for May (April revenue collected in May) is Rs 94,016 crore, which is higher compared to average monthly collection of Rs 89,885 crore of 2017-18. This reflects better compliance after introduction of e-way bills." Digging into the details, the Finance Ministry's information as filed in the reports revealed that out of the total amount of revenue, Central GST (CGST) amounted to Rs 15,866 crore while the State GST (SGST) amounted to Rs 21,691 crore. On the other hand, Rs 49,120 crore w...

1Jun By Gauri SinghNo Comments

BUSINESS

Amazon India Unit Suffers Heavy Losses

Amazon Seller Services, the Indian unit of US e-commerce retailer Amazon has witnessed a growth in their losses by 31% in the financial year 2016-17 reaching up to Rs. 4,830.6 crore. This is because of the exaggerated investments in the country in order to fight against its competitor, Flipkart. The Amazon Seller Services handles and operates a marketplace that assists the sellers to sell their products online in India and globally as well. Though due to investments, the company suffered losses, the revenue from the sales saw a rise of 43%, from Rs 2,276 crore in 2016 to Rs 3,256.6 crore in the year ended March 2017. In 2015-16, the Bengaluru-based unit suffered a net loss of Rs 3,679.9 crore. Where the competitor company Flipkart succeeded in lowering its losses to Rs 1,638.6 crore ...

Myntra’s losses reduced by 25%, Aims to Track Profits for FY18

21May By Gauri SinghNo Comments

BUSINESS

Myntra’s losses reduced by 25%, Aims to Track Profits for FY18

Myntra’s marketing strategies and intelligence have lately given a boost to the fashion and lifestyle business of its parent company Flipkart. The losses for the FY17 have reduced by 25% to Rs. 655 crore as against Rs. 823 crore in the previous year. The major strategy adopted by the fashion and lifestyle etailer has been the focus on umbrella branding of its private labels, which means the ability of a single brand to reach across categories. The increase in the reach of private brands to the masses led to the decrease in losses for the company. The documents show that the losses presently stand at Rs 627 crore, lessening 23% on a standalone basis. The company’s three-year-old private label business has grown tremendously and accounts for about 25% of the overall revenue. In Septemb...

Godrej Appliances Target 25%, Nearly 5000 Crore Revenue Growth in FY18-19

25Feb By NitishNo Comments

BUSINESS

Godrej Appliances Target 25%, Nearly 5000 Crore Revenue Growth in FY18-19

The Godrej Group sets target for its consumer durable's division Godrej Appliances nearly 5000 crores, 25 percent up in 2018-19. The group expected higher demand from tier 1 to tier 4 cities. The air conditioner (AC) segment of Godrej aims to increase its overall market share to 8 per cent from 5 per cent at present. The size of the AC market estimated to be 55 lakh units growing at a compounded rate of 20 per cent. However the penetration levels of AC is merely around 3.6-3.7 per cent in the country, according to industry estimates. The Air conditioners segment currently contribute close to 20 per cent of the Godrej revenues. "We should be close to Rs 4000 crore this financial year. We will be targeting a 25 per cent growth next year, at close to about Rs 5000 crore," Kamal Nandi...

Twitter Booked Profit For The First Time Since It Went Public

9Feb By AdityaNo Comments

BUSINESS

Twitter Booked Profit For The First Time Since It Went Public

Twitter Inc for on Thursday, posted its first quarter results, which are rather surprising, as for the first time in its history as a public company it generated a hefty profit, thanks to its expansion outside the USA. As soon as the results were announced, the social networking platform experienced a massive boost of 12 percent in its shares, breaking the two-years record. In the fourth quarter of 2017, Twitter made a net profit of $91.1 million against the loss of $167.1 million for the same period, one year ago. Twitter has been running in consistent losses ever since it became a public company in 2013, is now expected to turn profitable all around the year 2018. Even though the number of people using the social media is going down, it is really promising that Twitter has found su...