Although the Apollo digital business reported a big EBIT loss of Rs 140 crore, the MD of the company reposed faith in digitalisation being the main driver of growth and revenue in the future.
Tata Consumer on Wednesday reported its first-quarter earnings with overall a good set of numbers on strong food & beverages business as tea offset inflationary pressures in salt.
The loss of 4.8 billion yen ($35.6 million), its first quarterly loss in two years, compares with a profit of 14.5 billion yen a year earlier and a consensus estimate of a 19.4 billion yen profit from four analysts polled by Refinitiv.
Total revenue was virtually flat at $16.96 billion for the quarter to end-June, slightly above an average Refinitiv estimate of $16.87 billion drawn from seven analysts. Net income attributable to shareholders rose to $516 million.
More than $1 billion worth of investments were made in digital lending in 2021 and the market is expected to grow to $515 billion in book size by 2030, a report by Chiratae Ventures and Ernst & Young says
Net loss of Rs 6,290.8 crore in April-June compared with Rs 3,192.58 crore in the same period a year back, the Bharat Petroleum Corporation Ltd (BPCL) said in a statement.
The company had clocked a consolidated net profit of Rs 158.51 crore in the corresponding period a year earlier, it said in a regulatory filing.
The company had posted a net loss of Rs 157.10 crore during the April-June quarter of the previous fiscal, Raymond said in a regulatory filing.
The company had reported a profit after tax of Rs 153.44 crore in the same quarter of the previous fiscal.
Rural focussed micro-lender Spandana Sphoorty Financial had posted a net profit of Rs 55 crore in the corresponding period of the preceding fiscal.
The consolidated net profit of the company in the year-ago period stood at Rs 78 crore, according to a regulatory filing.
The company had posted a consolidated net profit of Rs 12.71 crore in the April-June quarter a year ago, Blue Star said in a regulatory filing.
Kalyan Jewellers had posted a loss of Rs 51.30 crore during the corresponding quarter of the previous financial year, the company said in a BSE filing.
China’s e-commerce leader reported revenue of 205.6 billion yuan ($30.4 billion) in the June quarter, enough to beat projections for 204 billion yuan. Net income fell 50% to 22.7 billion yuan. Its shares rose more than 3% in pre-market trading in New York.
"Following a relatively slow April and May, we saw signs of recovery across our businesses in June....," the company said.
Alibaba, the Chinese e-commerce juggernaut is anticipated to announce fiscal first-quarter revenue totalling 203.23 billion yuan ($30.05 billion), down 1.2 percent from the year ago period.
The Seattle-based coffee giant exceeded sales expectations despite continuing store closures and reduced hours in China due to coronavirus measures.
Despite the share-buyback promise, Airbnb's stock fell 9% in extended trading.
The company said it will also undergo an internal restructuring, which will see general managers assume responsibility for individual businesses. That reorganization will cost the firm between $30 to $40 million, Robinhood disclosed in a filing.
The iPhone maker on Thursday reported quarterly revenue in Greater China fell 1%, snapping a streak of strong quarters in the region.
Coal India (CIL) earned revenue by selling 661.89 million tonnes of coal in the last fiscal year.
Gartner is projecting a contraction in semiconductor revenue for 2023, and a sizeable slump in sales growth this year. As consumer demand stares at a slowdown, chip makers are betting that automotive and cloud infra could cushion the fall.
The strong outlook shows Microsoft continues to benefit from the pandemic-led shift to hybrid work models and comes at a time when investors are bracing for an economic downturn, with inflation roaring and consumers cutting spending.
The Standing Committee on Finance headed by BJP leader Jayant Sinha said MSME financing could be vastly expanded and better targeted through an integrated digital ecosystem.
This growth will come even as the supply of parts for the conventional internal combustion engine-driven vehicles will also grow during the period, it said.