Friday, November 22

Tag: revenue

Myntra Revenue Shoots up to 87% in 2016-17
27Jan By AdityaNo Comments
ANALYSIS

Myntra Revenue Shoots up to 87% in 2016-17

Flipkart owned India's leading fashion e-commerce company Myntra turnover zoom of ₹2,000 crore in fiscal 2016-17, an 87% jump from the previous year, according to a filing with the Ministry of Corporate Affairs. The company had posted a ₹816 crore loss in FY16. Tofler a data-tracking platform published this report. As per the report, 94% revenue came from trading business, that includes sales from Myntra’s private labels, a category that offers higher margins and has been aggressively pursued by the company over the years. And rest 6% from data processing, hosting and related activities and its Web portal. The filing did not show any profit or loss numbers for the year. Myntra was started private label business in 2015 and it now accounts for nearly a fourth of revenue. Last ye...
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Google India’s Sales Hits Billion Dollar This Year
18Nov By PriyankaNo Comments
BUSINESS

Google India’s Sales Hits Billion Dollar This Year

[dropcap]G[/dropcap]oogle India has crossed $1.11 billion dollar sales mark (turnover of Rs 7,208.9 crore) in the year March, 2017. These figures shows a jump of over 22.1% from the previous year's Rs 5,904 crore. Sales has witnessed an expansion of 44% this fiscal as per the report by TOI. Although the local business of Google India grew at half-a-pace this year in comparison to the last. It's rival Facebook however nearly doubled its revenues in the country indicating preference by marketers to advertise on platforms other than Google. Google also provides other Internet related services in India such as cloud based computing, digital payments etc. but the major revenue comes from its adverting sector where it displays ads next to the search results. Although in various sect...
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Uber Posts $708M Loss; Finance Head Leaves
2Jun By reutersNo Comments
News

Uber Posts $708M Loss; Finance Head Leaves

Uber said its head of finance is leaving, and the privately held ride-hailing company also said that its first-quarter loss narrowed substantially from the prior quarter, putting it on a path toward profitability. Head of finance Gautam Gupta is leaving in July to join another startup in San Francisco, the company said, making Gupta the latest high-profile executive to leave Uber. The Wall Street Journal first reported the news on Wednesday. Uber, which has been rocked by several high-level executive departures in the past few months as it grapples with a series of controversies, has been looking for a chief operating officer to help change its now-notorious "bro" culture. Gupta's exit sets the stage for a second major executive search, now for a chief financial officer who has pu...
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MapmyIndia Aims 5 Fold Jump in Revenue to Rs 1,000 Cr by 2023
19Feb By AdityaNo Comments
BUSINESS

MapmyIndia Aims 5 Fold Jump in Revenue to Rs 1,000 Cr by 2023

Digital map firm MapmyIndia expects a 5-fold increase in revenue to Rs 1,000 crore with the introduction of home level navigation in its maps and from expansion of business overseas over the next five years. "We started with initial capital of Rs 3 crore in 2004-05 and now we have revenue of Rs 200 crore. With launch of eLoc, that helps in navigating till doorstep, government support and overseas expansion, we expect to garner revenue of Rs 1,000 crore in the next five years," MapmyIndia Managing Director, Rakesh Verma told Pixr8. He said that now people can visit MapmyIndia and create own digital location code, eLoc of office and home on the map and use it as an alternative to their postal address. "A six character code is created automatically as digital address on the map. Thi...
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HCL Infosystems Posts Revenue of Rs. 765 Crore in Q3 FY17
1Feb By NitishNo Comments
BUSINESS

HCL Infosystems Posts Revenue of Rs. 765 Crore in Q3 FY17

New Delhi, Delhi, India- Consumer Business readies for Multi-Brand Telecom Distribution Enterprise focus continues for growth and profitability with Services geared for robust traction Quarter Highlights Overall Revenue of Rs. 765 Crore in Q3 Enterprise Business continues to grow with revenue of Rs. 490 Crore in Q3 (+5% YoY) on the back of strong order book growth Progress made towards project completion and receivables in the System Integration (SI) business with a collection of Rs. 200 Crore from a major Defence Project Consolidated Profit / (Loss) before Tax at Rs. (65.8) Cr in Q3 HCL Infosystems, one of India’s premier IT Services, Distribution and Digital Solutions Company, today announced its financial results for the third quarter ended December 31, 2016....
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TeamLease Services Q2 Net Profit at Rs 9 Crore
12Nov By AnkitaNo Comments
BUSINESS

TeamLease Services Q2 Net Profit at Rs 9 Crore

Staffing services firm TeamLease Services has reported a net profit of Rs 9.03 crore for the quarter ended September 30, 2016, a jump of 58 percent compared to the year-ago period. The company had reported a net profit of Rs 5.72 crore in the quarter ended September 2015, a company statement said. "The steps towards staffing vertical growth has gained momentum with the closure of acquisitions of ASAP Info Systems and Nichepro in the IT staffing space," TeamLease Services Managing Director Ashok Reddy said. Gross revenue of the company stood at Rs 840.88 crore for the second quarter of this fiscal with 14 percent yearly jump. "The continued focus on productivity, margin improvement and client acquisitions has seen good traction. We stay true to our core objectives and metrics of...
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Jabong Records 50% Growth in Net Revenues, 40% Increase in App installation
11Nov By AdityaNo Comments
News

Jabong Records 50% Growth in Net Revenues, 40% Increase in App installation

Fashion e-tailer Jabong said it saw 50 percent revenue growth month-on-month in October, closing the month with positive unit economics for the first time in its history. The Myntra-owned company achieved a positive gross profit for the first time ever, propelled by revenue growth and fulfillment cost reduction, Jabong said in a statement. However, the company did not specify the gross profit made or the total revenues for October. "Jabong has closed October with the first ever positive unit economics month, becoming only the second online e-commerce company in India to do so after Myntra," it added. Jabong said the growth was accompanied by a surge in customer net promoter score (NPS) -- a measurement of customer satisfaction -- to 50 percent. The company held its sale in October...
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Alibaba Sales Soars, Revenue Beats Expectations With Strong E-commerce Growth
3Nov By AnkitaNo Comments
CHINA

Alibaba Sales Soars, Revenue Beats Expectations With Strong E-commerce Growth

Chinese e-commerce giant Alibaba's sales soared 55 percent in the last quarter, thanks in part to a more than doubling of revenue from cloud computing, the company said today. The year-on-year growth in group sales, to 34.29 billion yuan (USD 5.14 billion), was not matched by net profit, which slide down 66 percent to 7.62 billion yuan (USD 1.14 billion). The drop was mostly due to an unfavourable comparison, as last year the firm booked an exceptional gain linked to the re-evaluation of its participation in one unit. "Alibaba Group had a great quarter," chief executive Daniel Zhang said in a statement on the firm's second quarter, which ended in September. "Our results reflect our increasing ability to monetise our 450 million mobile users through new and innovative social commerce ...
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BookMyShow Posted Profit of 3.1 Crore in FY16
20Sep By PriyankaNo Comments
BUSINESS

BookMyShow Posted Profit of 3.1 Crore in FY16

BookMyShow.com, India's leading online entertainment ticketing platform posted Rs.3.1 crore profit on moday for the year ended 31 March, against a loss of Rs.13.5 crore in the year-ago period. Bigtree Entertainment Pvt. Ltd also known as Bookmyshow, Revenue rose to Rs.248 crore in the period from Rs.130 crore. Revenue from online ticket booking doubled to Rs.176.7 crore from Rs.88.4 crore. The company was founded in 1999 by Ashish Hemrajani, Parikshit Dar and Rajesh Balpande, the Mumbai-based online ticketing company raised over Rs.550 crore in its fourth round of funding in July led by US-based Stripes Group with existing investors Network 18, Accel Partners, and SAIF Partners participating. The funding valued the company at Rs.3,000 crore. BookMyShow is present in over 350 towns...
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Gurgaon Based RupeePower Eyes Rs 15 Cr Revenue in FY17
11Sep By NitishNo Comments
BUSINESS

Gurgaon Based RupeePower Eyes Rs 15 Cr Revenue in FY17

Financial products platform RupeePower expects to grow about 70 per cent this year, clocking Rs 15 crore in revenue as it expands its product portfolio and facilitates disbursal of Rs 10,000 crore in loans. The Gurgaon-based startup, which had sold a majority stake in the company to eCommerce major Snapdeal in April 2015, has bought back control in August this year. Snapdeal is now a minority shareholder in the company. "We want to become a platform to guide users in making the right investment choices. They (currently) get access to a number of products like loans and credit cards through our platform and using analytics based on their spending patterns, social media profile, we want users to be able to access the right financial products," RupeePower founder Tejasvi Mohanram said. H...
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Indias IT Exports Revenue Growth Will 9-10% This Fiscal: T V Mohandas Pai
6Sep By Press Trust of IndiaNo Comments
Entrepreneurs Talk

Indias IT Exports Revenue Growth Will 9-10% This Fiscal: T V Mohandas Pai

The revenue growth of Indian IT exports this fiscal is likely to be slower than industry body Nasscoms projection of 10-12 per cent, according to industry veteran T V Mohandas Pai. "The figures could be lower than what Nasscom has said. But its still (expected to) be good figures. They forecast 10 to 12 per cent, I would say 9 to 10 per cent is something that could be more reasonable because we already have seen in the first quarter some companies not meeting numbers...second quarter, some companies going quiet. So, 9 to 10 per cent is reasonable," the former Board member at Infosys said. A clear picture would emerge after companies announce results for the September quarter, which is generally good for them. "Europe is beginning to look better. Brexit has hurt the UK. America... we h...
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