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21May By AdityaNo Comments

BUSINESS

Justdial Profit Decline 25% in Q4

Local search engine Just Dial today reported 25.08 per cent decline in net profit at Rs 35.33 crore for the quarter ended March 31. The company had reported a net profit of Rs 47.16 crore in the corresponding quarter a year ago. Just Dial Ltds total income from operations grew 14.92 per cent to Rs 179.61 crore in the quarter under review as against Rs 156.28 crore in the year-ago period, it said in a BSE filing. Its overall expenses stood at Rs 143.02 crore, up 19.29 per cent as compared to Rs 119.89 crore in the third quarter of the previous fiscal. During the entire 2015-16 fiscal, the companys net profit stood at Rs 141.8 crore as against Rs 138.89 crore in the year-ago period. Net sales during 2015-16 fiscal grew to Rs 690.83 crore as against Rs 589.8 crore a year ago.

Alibaba’s Revenue Rises 39 percent As More Shoppers Buy Online

5May By reutersNo Comments

CHINA

Alibaba’s Revenue Rises 39 percent As More Shoppers Buy Online

Alibaba Group Holding Ltd, China's biggest e-commerce company, said fourth-quarter revenue rose 39 percent, beating Wall Street estimates, helped by growth in gross merchandise volume. The company's American Depository shares were up 3.5 percent at $78.48 on Thursday. Revenue rose to 24.2 billion yuan ($3.7 billion) in the quarter ended March 31 from 17.4 billion yuan a year earlier, beating the average analyst estimate of 23.22 billion yuan. "Whatever they are doing must be working, and most importantly it's a sign that the Chinese consumer may not be weakening quite yet," said Gil Luria of Wedbush Securities. Gross merchandise volume (GMV), or the total value of goods transacted on its platforms on China retail marketplaces, rose 24 percent to 742 billion yuan. "Alibaba represent...

6Apr By Press Trust of IndiaNo Comments

INDIA

Now, This Indian State to Impose Tax on E-commerce Shipments

Himachal Pradesh has become the latest state to impose tax on e-commerce shipments with the state Assembly today passing a bill providing for levying tax on all online purchases to check revenue loss caused by online trading. Major states like Gujarat, Madhya Pradesh Rajasthan and Uttar Pradesh have already announced imposing tax on online purchases to protect local traders. The HP Assembly passed the Himachal Pradesh Tax on Entry of Goods (Amendment) Bill 2016, that provides for levying tax on all online purchases to check revenue losses caused by online trading. The bill was passed without any discussion as the BJP members were protesting on some other issue when the bill came up for discussion. As per Excise and Taxation Minister Parkash Chauhdary, the Bill includes provisions to...

Alphabet Inc Changes Results Format to Separate Google, Other Bets

29Jan By NitishNo Comments

BUSINESS

Alphabet Inc Changes Results Format to Separate Google, Other Bets

Reuters- Hoping to provide greater clarity into the performance of its many holdings, Alphabet Inc said it would report financial results under two segments, Google and "Other Bets," when it releases fourth-quarter earnings on Monday. Under Google, Alphabet will report the results of its main Internet and related businesses such as search, ads, maps, YouTube, Android, Chrome and Google Play, and hardware products such as Chromecast, Chromebooks and Nexus, as well as its virtual reality offerings. "Other Bets" will detail Alphabet's other businesses including Access/Google Fiber, Calico, Nest, Verily (formerly known as Google Life Sciences), GV (once known as Google Ventures), Google Capital and X, better known as Google X. Alphabet said there would be no changes to its consolidate...

Facebook Smashed Investors’ Expectations with a 52% Jump in Q4 Results

28Jan By NitishNo Comments

News

Facebook Smashed Investors’ Expectations with a 52% Jump in Q4 Results

Facebook has smashed investors' expectations with a 52 per cent jump in quarterly revenue as it sold more ads targeted at a fast-growing number of mobile users, sending its shares sharply higher after hours. The world's biggest online social network bucked the trend of underwhelming tech results from Apple and eBay, in the face of economic turmoil in China and a strong US dollar depressing the value of overseas sales. Facebook's service is not available in China but it sells ads there. "It's phenomenal at these (currency headwind) levels that they're accelerating to that level of growth," said Rob Sanderson, an analyst at MKM Partners. "I don't think there's going to be too many people crying for them to start monetising other properties anytime soon because the core business is so ...

Report: Bollywood revenues may cross Rs 19,300 cr by FY17

4Jan By PriyankaNo Comments

News

Report: Bollywood revenues may cross Rs 19,300 cr by FY17

Mumbai, Jan 4 (PTI) Revenues from Indian Film industry, Bollywood, are likely to cross Rs 19,300 crore by next fiscal, owing to aggressive marketing campaigns, growing contribution from overseas markets and improved quality of movies, says a study. The current estimated size of Bollywood is about Rs 15,500 crore. An increased number of multiplexes and growing digitisation in the industry are also contributing to the rise in revenue. “Box office collections in India that are estimated at over Rs 11,500 crore are likely to cross Rs 14,200 crore mark by 2017 and will account for about 74 per buy cialis online cent of the majority of Bollywood revenues,” said the joint study conducted by Assocham and Deloitte. The industry s revenues from overseas box office collections are like...

CITRUS PAYMENT RECORDS 200% GROWTH IN REVENUES IN FY 2014-15

27Nov By No Comments

News

CITRUS PAYMENT RECORDS 200% GROWTH IN REVENUES IN FY 2014-15

Born out of a requirement of higher online payment success rate, Citrus is a key player in the Payment Gateway industry. It competes with major players like BillDesk, TechProcess, CCAvenue, etc. Citrus was co-founded by Satyen Kothari and Jitendra Gupta in 2011. It is engaged in the business of payment processing for credit cards, debit cards, bill payments, prepaid cards and all other kinds of payment instruments. The company has secured funding from Sequoia Capital and Ascent Capital. In this article, Tofler takes a look at their financial performance in FY 14-15. Founded in 2011 Turnover in FY14-15 INR 38 CR Expenses FY14-15 INR 53 CR FINANCIAL PERFORMANCE OF CITRUS PAYMENT The company earned a revenue of INR 38 crores in FY 2014-15 as...

OYO ROOMS HAD A TURNOVER OF INR 2.4 CRORES IN FY 2014-15

25Nov By No Comments

News

OYO ROOMS HAD A TURNOVER OF INR 2.4 CRORES IN FY 2014-15

Founded in 2012 Turnover in FY14-15 INR 2.4 CR Growth in FY14-15 400% If you have been around in your city anytime recently, more likely than not, you would have spotted an OYO Rooms board. OYO is a branded network of hotels and is one of the fastest growing startups in India. Founded by Ritesh Agarwal (aged 19 years then) in 2012, OYO claims to be India’s largest branded network of hotels spread across 152 cities with more than 3000 hotels. Oravel Stays Private Limited, which owns and operates OYO Rooms, reported a turnover of INR 2.4 Crores in FY 2014-15, growing from a turnover of INR 51 lacs in the previous fiscal. However, at the time, OYO appeared to have been present only in 10 cities with 200 hotels. They have seen a phase of ex...