Zee Entertainment Enterprises reported its first sales growth figure in the post-pandemic period after advertising revenue grew by 7.5% and domestic subscription revenue rose 9.3% on a like-to-like basis. It also generated another Rs 551 cr during the quarter by licensing its content to third parties, taking its revenue growth to 33%. However, excluding this […]
Third-quarter results from textiles and garments maker Arvind Ltd indicated that the economic recovery from the COVID-19 pandemic has been far from uniform across all sectors of industry. While certain segments, such as two-wheelers and electrical equipment, have bounced back or even exceeded their pre-COVID levels, there are still others like textiles, retail and hospitality […]
HCL Technologies (HCL), one of India’s top IT services and outsourcing providers, said it has won a five-year deal to implement a digital workplace solution for the world’s largest aircraft maker Airbus. Financial details of the deal were not disclosed. Airbus is emerging as the biggest aircraft maker in the world after its long-time rival […]
India-based Dixon Technologies, one of the world’s largest contract electronics manufacturers, said it is in the final stages of operationalizing a deal with Chinese electronics maker Lenovo that will enable it to start export smartphones in coming months. This will mark the quickest move to exports for any category for Dixon Electronics. At present, the […]
Sales of Tata Motors passenger vehicles has almost doubled in January to 26,978 units from 13,894 units in January of last year — marking the highest ever monthly sales for the company. The previous high was in November, when it sold 23,617 passenger vehicles. The exact break-up of which models did how much in terms […]
In a sign of consumer spending having normalized — at least for small ticket items, Relaxo Footwears posted results for October-December that were even better than those of the same period in 2019. Revenue rose 12%, or Rs 72 cr, on year to Rs 672 cr, while net profit was up Rs 44 cr, or […]
Maruti Suzuki, the country’s largest carmaker, may soon offer a new product for companies with a large fleet of vehicles, such as taxi operators, BPOs and IT companies. The company has called for a shareholder vote on including fleet management services in its memorandum of association — the most basic document of a company that […]
Bharti Airtel, which has so far maintained that it will take two to three years for the 5G ecosystem to get ready in India, seemed to have had a change of heart, going by its latest statement on the upcoming wireless communication standard. Giving details of the ‘first ever successful demonstration’ of 5G on a […]
Aditya Birla Fashion and Retail has taken a controlling stake in designer brand Sabyasachi for Rs 398 cr, adding to its existing portfolio of brands that include Louis Philippe, Van Heusen, Allen Solly and Peter England. It will buy a 51% stake in the company founded by Sabyasachi Mukherjee in 1999. “Sabyasachi is India’s largest […]
Reliance Jio, India’s largest telecom company, reported a new low in net subscriber additions during the Oct-Dec period, managing to add just about 4.4 million net new users during the final three months of the year. This is the lowest net addition for any three-month period since the company started commercial operations four years ago. […]
After several quarters, Polycab India Ltd reported a set of financial results that were decidedly less rosy than those of its primary rival Havells India Ltd. Two days after Havells reported a 39% year-on-year jump in revenue to Rs 3,175 cr, Polycab said its third-quarter revenue rose 12% on year to Rs 2,799 cr. While […]
After two torturous quarters, value-focused fashion and general merchandise retailer V-Mart reported an 81% like-to-like sales recovery for the Oct-Dec quarter. The number indicates that modern retail, with its air-conditioned showrooms, is still struggling to attract visitors unlike several other retail segments. Some of the other segments, such as automobiles, consumer durables and even some […]
Bajaj Auto Ltd, one of India’s oldest two-wheeler makers, today reported its highest ever quarterly revenue, profit and volume numbers as consumers again loosened their purse strings with COVID-19 uncertainty receding into the background. Like most other companies in India, Bajaj Auto had taken a severe beating in the first quarter (Apr-Jun) due to COVID-19, […]
Electrical goods maker Havells India Ltd reported its best ever quarter after pent up demand lifted the company’s sales and profits to unprecedented levels in October-December 2020. The company’s third-quarter revenue jumped nearly 40% year-on-year, breaking the Rs 3,000 cr mark for the first time in its history. Similarly, pretax profits zoomed 101% to Rs […]
TV18 Broadcast, one of India’s top TV broadcasting companies, reported a whopping 84% jump in its net profit for the December quarter. The numbers were boosted by a sharp fall in operating and tax expenses, as well as by a steady recovery in revenue aided by festival spending. The company’s consolidated net profit for the […]
Hindustan Media Ventures Ltd, the publisher of popular Hindi newspaper Hindustan, revealed a financial performance that suggest that the company is bouncing back faster than expectations. In what could come as a surprise to many analysts, the company’s net profit for the Oct-Dec 2020 period was in fact higher than its net profit for the […]
Mumbai-based diagnostic services provider Metropolis Healthcare today announced that it has agreed to buy Chennai-based Hitech Diagnostic Center for a cash consideration of Rs 511 cr. Hitech promoters will invest in Metropolis as part of the deal. Metropolis did not specify the price at which it would allot the 4.95 lakh shares that it will […]
PVR, the country’s biggest chain of multiplex cinemas by far, indicated that the worst was behind for the company, as customers started trickling back into theaters in November and December. Nevertheless, the pace of recovery continues to be very gradual. For the three months ended December, PVR’s operations generated revenue of Rs 45.40 cr. This […]
HFCL, one of India’s oldest telecom equipment and services companies, reported strong growth for the three months ended December, riding on burgeoning demand for fiber optic equipment and related services in India. The company’s revenue increased by a whopping 21% compared to the preceding three months ended September 2020, while net profit jumped by 60%. […]
Hero MotoCorp, the world’s largest two-wheeler manufacturer, announced new expansion plans for the Central American markets of Nicaragua and Honduras after appointing new distributors there. It said it has ‘aggressive expansion plans’ for the two countries, and plans to launch its range of premium motorcycles in both countries and expand its network in these markets. […]
