NON PROFIT ORGANISATIONS
Unpacking Go Digit’s earnings; PEs in IPO-bound firms
Go Digit General Insurance reported its second consecutive full year of profit in fiscal 2024. This and more in today’s ETtech Top 5.
Organised paints sector set to double production capacity by 2027
A study by CRISIL Ratings reveals that the organised paints sector's production capacity is set to double to 7.8 billion litre per annum by 2027 with investments of Rs 19,000 crore lined up from key industry players.
Unacademy’s Hemesh Singh joins other founders who donned non-executive roles
Unacademy's Hemesh Singh on Saturday stepped down as CTO of the company, moving to an advisory role. This is one of the many top-deck changes reported in startups over the past year. Here's a look at some of the key changes announced by startups in their leadership.
MHA grants SRK's NGO, Meer Foundation, FCRA licence
Shah Rukh Khan's NGO, Meer Foundation, granted FCRA licence by MHA for 5 years to support acid attack survivors.
Ola Electric eyes leaner road to profitability, to cut 400-500 roles
Ola Electric, eyeing an IPO, is reportedly trimming its workforce by 400-500 employees to streamline operations. This number may change as the senior leadership is still concluding the scale of the layoffs. They are expected to hit multiple verticals, sources told ET.
Top stocks to buy: Bet on companies with healthy net profit margins to remain versatile during uncertain market conditions
The markets are expected to rally if the election results align with expectations. Nonetheless, persistent macro issues and valuation concerns may constrain the upside potential. Analysts suggest that investors capitalise on the current volatility by accumulating quality stocks.
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View: Overturn cultural practices and dogmas to spur our companies to spend on R&D
WhatsApp showcases tales of ancient glory, while global reports highlight India's rankings in hunger, press freedom, and sustainable development. India ranks 40th on the GII 2023, above all BRICS nations except China.
Paytm expects near-term impact on revenue, profitability due to regulatory action: Vijay Shekhar Sharma
Paytm’s parent, One 97 Communications Ltd, is taking steps to “strengthen the governance framework across our group entities (especially regulated entities)” by appointing subject matter experts as advisors of independent directors, says founder Sharma in letter to shareholders. Going forward in the ongoing fiscal, Paytm also anticipates reduction in employee costs.
People+ai partners with 24 tech organisations to enable open cloud compute infra
AMD, Oracle, and various technology providers collaborate to address the increasing compute requirements. The partnership aims to enhance the compute ecosystem in India through the creation of a network of providers for accessible and tailored compute resources.
TCS Q4 net profit up 9%; two partners leave Lightspeed
Revenue from operations saw a marginal 3.5% year-on-year increase to Rs 61,327 crore. In constant currency terms, TCS clocked a revenue growth of 2.2% in the March quarter. The growth was led by the India business (up 38%), followed by the UK (6.2%).
Physics Wallah shrugs off profit drop, plans more offline centres
Chief executive Alakh Pandey told ET that the offline business at Physics Wallah now contributes 40% of total revenue although it accounts for only 5% of its student base and the company is aiming to take the revenue share to about 45%.
C-suite hiring trends open doors to new roles in non-tech industries
Hirings and firings in the technology sector are creating opportunities in emerging roles in non-tech sectors like manufacturing, healthcare, and various industries. Demand for leadership talent is increasing, focusing on skills like data science and ESG. Cultural fitment is a challenge for organizations and talent.
Ajit Isaac on what Quess Corp demerger, the value unlocking and rationale
Ajit Isaac, CMD of Quess Corp, explains the rationale behind the demerger, emphasizing the need for a simplified structure and renewed focus. He discusses the targets for each demerged entity, including international expansion, revenue growth, and margin improvement. Bluspring is positioned to capitalize on the opportunities in India's evolving economy.
Some tax clarity for non-profits
A tax officer has the power to call for any documents/information of the entity to conduct an inquiry 'as he thinks necessary to satisfy himself about the occurrence of a 'specified violation'', and pass an order to cancel the registration of such entity, even for previous years (and all subsequent years after that), in cases where the officer notices any 'specified violations', or if a case is selected by 'risk management strategy' formulated by CBDT.
Piramal Pharma posts Rs 10 crore net profit in Q3FY24
Piramal Pharma Q3 Results: Revenue from operations rose 14% YoY driven by double digit growth across all the three businesses.
Chipmaker Nvidia raises $15 million for Israeli non-profits helping war-hit civilians
Thousands of employees from more than 30 countries donated a total of $5 million, which the company matched and doubled to $10 million under a special programme introduced to help those affected by the war, Nvidia said on Sunday.
Organised F&G retailer revenue to grow in mid-teens next fiscal: Crisil
Continued healthy demand and expansion in under-penetrated Tier II and III cities will help organised brick-and-mortar food and grocery (F&G) retailers log a strong revenue growth of 14-15% in fiscal 2025 despite fierce competition from quick commerce channels.
Startup conclave to be organised in Gandhinagar on December 7
Patel said a roundtable will also be organised in the state capital on December 6 in presence of Union ministers Dharmendra Pradhan and Rajeev Chandrasekhar and Gujarat Chief Minister Bhupendra Patel.
We are working to co-create products with Unity Bank; will increase stake in NBFC: BharatPe’s stand-in CEO Nalin Negi
This comes as the company has been looking to rekindle its relationship with Unity Bank after a tumultuous period marked by the departure of BharatPe cofounder Ashneer Grover last year, and the subsequent efforts to strengthen the board and corporate governance practices.
TiE Delhi-NCR and Prayatna organise 'Malaria Hackfest'
Hackfest has invited suggestions from top tech schools in India to provide targeted solutions to fight Malaria. A maximum award of INR 5 lakhs will be given to the winner.
ETtech Opinion | Culture, technology, resilience: the changing business imperative in challenging times
As per a survey, 89% of respondents cited resilience as one of their most important strategic organisational priorities. It also revealed that 96% of organisations have experienced disruption in the past two years. Hence, the ability to bounce back is crucial for any business to succeed in today's unpredictable global environment.
Yearly heat-related deaths to see fivefold rise by mid-century, climate inaction threatening public health: Lancet report
The report, however, found few signs of the urgently needed progress, in a world still bound to fossil fuel ambitions and thus, called for "a people-centred transformation: putting health at the heart of climate action". The pace and scale of mitigation efforts continued to fall very far short of those required to safeguard people's safety, with current policies putting the world on track for a potentially catastrophic 2.7 degrees Celsius of heating by 2100, the report warned.
Inclusive Leadership: Harnessing Diversity for Organisational Success
Inclusive leadership is essential for organizations to thrive in today's global landscape. It goes beyond diversity and focuses on creating an environment where every individual feels valued and empowered. Inclusive leadership benefits organizations by enhancing innovation, improving employee engagement, promoting better decision-making, and increasing market competitiveness. Practical strategies for inclusive leadership include leading by example, providing training and education, promoting diverse hiring, creating inclusive policies, fostering inclusive team cultures, and implementing mentorship and sponsorship programs. While challenges may arise, a commitment to change and ongoing effort can overcome them. Inclusive leadership is a strategic imperative that drives organizational success.
NBFC-MFIs outpace microfinance industry growth, banks falter
Non-banking finance companies-microfinance institutions (NBFC-MFIs) in India have seen a 43% year-on-year growth, allowing them to increase their share of the microfinance market to 41.28%, up from 35% a year ago. The overall gross micro loan portfolio grew 21% to Rs 3.59 lakh crore ($47.8bn) by the end of June. Small finance banks and other non-banking finance companies also saw their micro loan portfolios rise 24% each.
Sebi looking to ease fundraising for not-for-profit organisations on social stock exchanges
Additionally, it has suggested abolishing the requirement of no pending notice or ongoing scrutiny by Income Tax against NPOs for registration on social stock exchanges (SSEs) and substituting the term social auditor with social impact assessor.
Technology firms to support non-profit forming SRO to vet fact-checkers
Although Snap, Twitter and Jio haven't officially confirmed that they will support MCA, others like Google, Meta, ShareChat and Koo have given in-principle approval.
Innover launches SAAS Platform for non profit organisations
The platform will help non profits create a connected digital ecosystem to build a thriving community, amplify their mission, and maximize their impact.
Explainer: NSE gets nod to launch social stock exchange. What is it and how does it work?
Social enterprises are non-governmental organisations and are of two types — non-profit organisations (NPOs) and for-profit social enterprises (FPEs). An NPO is a charitable trust or a charitable society not operating for profit, whereas an FPE is a company or corporate body in the social space, operating for profit
Google launches accelerator to support transition to circular economy
The new accelerator programme is for startups and non-profits that use technology to solve circularity challenges including reuse, refill, recycling, composting, fashion, food, safe and circular materials, and the built environment, Google said.
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