NON FARE REVENUE
Want a commercial space in Delhi-Meerut RRTS stations? NCRTC is asking for bids
The NCRTC has invited bids for leasing commercial space at three stations along the Delhi-Meerut RRTS corridor to boost non-fare revenue. Funding from international banks supports the project, set to transform real estate markets in Ghaziabad, Meerut, and surrounding areas. By 2031, the stations are expected to cater to 100,000 passengers daily, enhancing investment prospects.
Is Congress aware of cost of implementing Rahul Gandhi's 'Khata Khat' schemes: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman questioned Congress' understanding of the costs associated with social welfare schemes, including the proposed Rs 1 lakh transfer to women below the poverty line. She highlighted the BJP government's improved fiscal management compared to the UPA era, despite challenges like the Covid-19 pandemic. India's debt-to-GDP ratio is relatively low compared to other economies.
Paras Defence usually treads in non-competitive zones and creates a niche: Amit N Mahajan
Amit N Mahajan says: “Paras Defence is into a wide range of technologies and serving platforms from, say, a small UAV to a large submarine or aircraft carrier or for that matter fighter jets. We are across all platforms. Paras will directly or indirectly benefit from any indigenisation or any big or a small deal announcement that the Ministry of Defence makes, because from components to systems, we are there.”
Proposing changes to make electric buses more viable: Gadkari
The centre is evaluating options to make electric buses lucrative for bus makers and state transport utilities (STUs) said Minister for Road Transport and Highways, Nitin Gadkari. Highlighting the lacunae in STU operations, Gadkari said that theft of diesel will be plugged with introduction of electric buses
Warner Bros Discovery streaming business turns a profit
The company’s streaming unit, which includes the HBO Max and Discovery+ services, posted adjusted pre-tax earnings of $50 million in the quarter, compared with a loss of $227 million a year earlier.
Infosys forecasts lowest revenue growth in six years; FirstCry's secondary share sale at $3 billion
India’s second-largest software exporter, Infosys has forecast a revenue growth of 4-7%, its lowest guidance in over six years. This and more in today’s ETtech Morning Dispatch.
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US Banking crisis may hit Indian IT firms; Spotify India’s ad revenue push
Analysts expect revenues of Indian IT majors like Tata Consultancy Services and Infosys getting adversely impacted due to the ongoing crisis among US regional banks. This and more in today’s ETtech Morning Dispatch.
ETtech Unwrapped: Confusion, chaos, and disruption in wake of Delhi's bike taxi ban
The notice issued by the Delhi government last week warned bike taxi operators such as Rapido, Ola and Uber to not ply on Delhi roads as it violates the motor vehicle laws.
Ads on fintechs pay off for D2C firms; don’t use bikes as taxis for deliveries, Delhi govt tells online platforms
With a captive user base and high user engagement, fintechs such as Paytm, PhonePe, and Google Pay are becoming popular with direct-to-consumer (D2C) brands seeking a platform to advertise and acquire customers. This and more in today’s edition of the ETtech Morning Dispatch.
Vistara to have 70 planes in fleet by mid-2024: CEO Vinod Kannan
"The percentage of capacity deployed internationally has increased. We have 25-30 per cent deployed internationally... That is quite positive and a game changer for us," Kannan said at a briefing. Vistara is set to be merged with Air India.
Exclusive | India can be a ‘shining example’, says Pichai; BigBasket bags $200M at $3.2B valuation
Responding to a question on two orders by India's competition watchdog in October, in which it imposed heavy fines on Google, Pichai said he was “definitely concerned” by some aspects of the rulings as they could “really set back user privacy and security”.
How different sectors in Nifty50 fared in the second quarter of 2022-23
Increased consumer spending supported earnings in the second quarter. However, most companies saw erosion in operating profit margins.
Tata Digital revenue up 3x in FY22; TCS, BSNL close in on $2B deal for 4G
Tata Digital's consolidated revenue also includes businesses such as Croma, Tata Fintech, Tata Technologies and previous BigBasket acquisitions like DailyNinja and Savis Retail.
More online gaming firms under I-T lens; Tatas may consolidate ecommerce biz under one entity
The action comes close on the heels of the GST intelligence wing issuing a similar notice earlier this month to a Bengaluru-based online gaming portal GamesKraft Technologies Pvt Ltd demanding Rs 21,000 crore in taxes, interest, and penalty.
Samir Mehta on how Torrent's pharma, energy & gas businesses are faring & more
“We believe Torrent Pharma is amongst the best in class with margin at the current level and business would continue to grow in terms of double digit revenue growth and that itself would generate a momentum which would improve the margin further. On the other hand, our last seven-eight years’ growth has been substantially driven through the acquisitions that we made.”
Byju’s audited revenue may be lower than projected; Amazon cuts India losses
The discrepancies arose due to a change in the way the startup recognises its revenue, sources privy to the matter said, adding that the revenue number will be lower and reflect in its annual report soon.
Rising cost inflation continues to hurt most companies: How different sectors fared in Q1
Rising consumer spending and economic recovery supported corporate earnings in the first quarter. However, rising cost inflation continues to erode operating profit margins for most companies.
Higher ATF prices, weaker Rupee to drag aviation sector profitability despite strong fares
An increase in jet fuel price raises the operating cost for airlines. ATF makes up to 40 per cent of an airline's operating cost. As per reports, Civil Aviation Minister Jyotiraditya Scindia recently held a detailed discussion with the advisory group of airlines on ATF in India and abroad, along with steps to mitigate the burgeoning pressure of rising prices.
Taking over from IRCTC, railways to now open over 100 food plazas at stations to generate revenue
Officials in the know suggest that the IRCTC has been unable to set up these food courts primarily because of high licence fee, high rate of rail land and wrong choice of place for setting up such units as stipulated in the catering policy of 2017. Sources indicate that a review of the policy is currently underway.
View: Passenger fare hike must to push Indian Railways on reform track
Rail minister Piyush Goyal has been able to get these reforms through by artfully maneuvering through the maze using a ‘carrot and stick’ policy while keeping a strict check on the bureaucratic overreach.
Rationalise both freight and passenger fares prudently: Parliamentary panel to railways
The Standing Committee on Railways on 'Demands for Grants (2020-21) of the Ministry of Railways', which submitted its report in the current session of Parliament, has stated that there is a need to revisit the components that constitute social service obligations of the national transporter.
Railways has earned over Rs 400 crore in non-fare revenue during 2017-2019: Government
Overall, Indian Railways is not incurring losses. During 2017-18 and 2018-19, surplus generated by Indian Railways was Rs 1,665.61 crore and Rs 3,774.51 crore (provisional) respectively," he said.
Wage & pension burden hits Railways operating ratio
The railways is expected to report an operating ratio, a measure of its performance, of about 98.5% in FY18, against the revised 96% announced in the February budget.
Railways should explore non-fare revenue sources for growth: Economic Survey
The Survey suggested no-fare sources, station redevelopment and commercial exploitation of vacant buildings and land along tracks through leasing.
Overcharging rail passengers won't be tolerated: Railways official
The official said that any complaints regarding overcharging in catering of various items, including food, will be taken seriously and meted out with strict punishment.
Railways evolving policy to clear encroachments from its land: Suresh Prabhu
Suresh Prabhu told the Rajya Sabha that "we are in the process of formulating a policy for and a lot of advance work has been done on this."
Railway launches non fare revenue policy
Railways expects that these initiatives have the potential to generate over Rs 18,000 crore of revenue.
Railway plans foray into radio to boost non-fare revenue
The Non-Fare Revenue (NFR) Directorate of Railway Ministry pegs the revenue from advertisements through onboard radio at over Rs 100 crore per year.
Railways on fast track to boost non-fare revenues
The most ambitious plan is the proposed Rail Display Network that is expected to generate Rs 3,500 crore annually by end of the sixth year of its launch.
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