PROFITABLE BUSINESSES
SpiceJet returns to profit, aims to raise fresh funds
Spicejet’s net profit had stood at Rs 17 crore in the corresponding period last year, according to the company’s statement. Ajay Singh, chairman and managing director of SpiceJet, said, “The results reflect our relentless efforts to enhance operational efficiency and our commitment to turning around the company’s fortunes."
FedEx climbs on cheery annual profit forecast, freight business review
FedEx shares jumped 13% premarket on Wednesday after the delivery giant reassured investors with a largely upbeat annual profit forecast and said it would weigh options for its less-than-truckload business that one analyst valued at $30 billion.
Tata Sons hits pause on fresh funds till e-commerce, electronics businesses shape up
"There is a strategic reason for not making any equity infusion even as organisational changes are being made," said one of the persons. "However, new fund infusion will commence after the strategy and organisational changes for better operational efficiencies are in place." Registrar of Companies (RoC) filings obtained through business intelligence platform Tofler show group holding company Tata Sons didn't invest in Tata Digital in FY24.
GST council has taken some far-reaching steps: Pratik Jain, PwC India
The GST on petrol and diesel and all the passenger fuels will take a lot of time. GST on ATF and natural gas could come in hopefully soon, but for other petroleum products like petrol and diesel and other passenger fuels, where a lot of revenue is involved, it will take some time, says Pratik Jain, Partner, PwC India
RBI flags pursuit of growth at cost of risk buildup
India's banking regulator cautioned lenders against pursuing 'mindless' business growth to avoid exposing the financial system to risks. RBI Governor Shaktikanta Das emphasized the importance of balancing business growth with risk management.
Impact of RBI's embargo will be seen Q1 FY25 also: Kapish Jain, IIFL Finance
While other businesses are operating fine, this business, how it runs down is something that we will see by the end of the quarter to anticipate what is going to see on the P&L.
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Here's how Shark Tank judge Mark Cuban made 300 of his employees into millionaires
Mark Cuban, known for his entrepreneurial success and role on Shark Tank, shares profits with employees following business sales. His practice began with MicroSolutions in 1990 and continued with ventures like Broadcast.com and HDNet. Cuban’s approach ensures employees benefit from company sales, with significant payouts like those seen during the Broadcast.com sale to Yahoo. His experiences highlight the importance of employee well-being and cautious financial decisions.
Akasa Air well on path to profitability; will launch more intl flights: Co-Founder Aditya Ghosh
Akasa Air, co-founded by Aditya Ghosh, is progressing towards profitability and expanding its reach to South and Southeast Asia. In under two years, the airline has grown to a fleet of 24 planes with over 4,000 employees. Ghosh emphasizes a customer-focused, consistent approach to operations and plans further international and domestic expansions.
BNPL startup Simpl undertakes another round of layoffs, rejigs senior leadership
Simpl, a Bengaluru-based consumer credit startup, laid off 30 employees after firing 160 executives. Senior executives Vatsal Jain, Ashwini Ravindranath, and Ramkumar Narayanan resigned. Earlier in April 2023, the BNPL startup let go 25% of its workforce or around 150 employees.
ET Analysis: Indian hospital chains report revenue growth & expansion plans amidst regulatory concerns
Leading hospital chains in India have reported improved average revenue per operating bed (ARPOB) and profitability in the latest quarter, driven by better payer mix and cost control measures. Expansion plans are underway, with a focus on markets like Bengaluru and Mumbai, through asset-light models. Adjacent businesses such as diagnostics, virtual care, and digital healthcare platforms are also seeing growth. However, regulatory proposals to rationalize rates may pose risks to sector valuations.
Adani third Indian business house to cross $10-b mark in operating profit
Adani Group joins Tata Group and Mukesh Ambani's Reliance Group in achieving $10 billion annual operating profit in FY24 despite challenges.
Oxyzo FY24 operating revenue up 59% to Rs 903 crore, net profit at Rs 290 crore
Oxyzo Financial Services, the lending arm of OfBusiness, reported a 59% increase in operating revenue to Rs 903 crore for FY24. The company raised $200 million at a unicorn valuation from investors like Alpha Wave Global. Ruchi Kalra leads Oxyzo, which has a net worth of Rs 2,600 crore.
Tata Steel's UK business likely to make operating profit in H2, says CEO T V Narendran
"We don't expect demand in UK to shrink beyond what it is. We will be at least $150 per tonne cheaper in the cost of production. This changes our cost position, and we will not start losing money in the UK every time steel prices drop," Narendran said in an interview with ET.
Coworking co EFC January-March net profit up 205% at 27.94 crore
Segment-wise, the only listed co-working space company's rental business accounted for a major share of total revenue at Rs 69.95 crore followed by fit out contracts business at Rs 23.24 crore and Rs 5.92 crore from other businesses.
Emami Q4 Results: Profit rises 4% to 146.75 crore, revenue up 7%
Homegrown FMCG major Emami Ltd on Wednesday reported an increase of 3.62 per cent in its Profit After Tax (PAT) to Rs 146.75 crore for the fourth quarter that ended on March 31, 2024.
IFB Industries Q4 Results: Profit at Rs 12 crore
IFB Industries Ltd has reported a consolidated net profit of Rs 12 crore for the fourth quarter ended March 31, 2024, helped by performance from engineering business and home appliances. The company had posted a net loss of Rs 9.94 crore for the year-ago period, according to a regulatory filing on Tuesday.
Jagran Prakashan Q4 Results: Net profit slides 74% to Rs 6.02 crore, revenue up 11% YoY
Jagran Prakashan Ltd, the publisher of Hindi daily Dainik Jagran, on Tuesday reported a 74.1 per cent decline in its consolidated net profit to Rs 6.02 crore for the fourth quarter ended on March 31, 2024.
JP Morgan maintains overweight rating on LIC post Q4 results, sees 29% upside
JP Morgan maintains 'Overweight' rating on LIC post Q4 results, setting target price of Rs 1,340. LIC's market share growth and strong earnings drive stock performance.
LIC Q4 net profit up 2.5%, declares Rs 6/share dividend
The insurer reported profit of ₹13,421 crore in the same period last year. The solvency ratio improved to 1.98% from 1.87% last year. LIC announced an interim dividend of ₹6 per share.
DCM Shriram Industries Q4 Results: Profit rises 23% to Rs 39 crore
DCM Shriram Industries reported a 23% increase in consolidated net profit to Rs 38.64 crore for Q4 of the 2023-24 fiscal, driven by lower expenses.
Can leaders show profitability and sustainability together?
SAP conducted a sustainability study revealing 86% of Indian organizations see a link between sustainability and profitability. Manish Prasad emphasizes sustainability's importance for business success.
Pieter Elbers explains what is driving up IndiGo profitability and double-digit capacity guidance for FY25
Pieter Elbers, CEO of InterGlobe Aviation, highlights IndiGo's unique position with over 50 planes delivered annually. Q4 revenue drivers include Indian market growth and strategic initiatives. He discusses the seasonally weak Q4 yields and predicts similar revenue environment for Q1 FY25. Elbers says their strategy is starting to take shape and resonating very well for all the different initiatives.
IndiGo announces foray into business class after record profit
IndiGo said that business class will be available on the busiest routes of the country which sees heavy corporate traffic and will be operational before the end of this year. Coming August, around IndiGo’s anniversary, more details on product offering, launch date and routes will be unveiled.
ITC Q4 Results: Net profit drops marginally to Rs 5,020 crore
Revenue from operations went up by 1.4% at Rs 17,752.87 crore in the period under review. The company said excluding the agri-business (which was severely impacted due to government restrictions in trade of agri-commodities), the company’s gross revenue during the fourth quarter has gone up by 6% y-o-y.
ITC Q4 Preview: Revenue to grow around 3% YoY; margins to contract
Brokerage firms expect that ITC will announce subdued revenue growth for the fourth quarter when it declares its results on May 23. Based on projections from different brokerages, it's anticipated that profits will see a modest 3% year-on-year increase, with the hotels segment expected to perform strongly. In the previous December quarter, ITC recorded a 6% rise in consolidated net profit, amounting to Rs 5,335 crore.
Medanta management on business performance, growth outlook and more
So, on an overall basis, we are very happy with how things are going. This is in line with our stated strategy of making sure we focus on quality, driving growth through volume.
IIFL Securities Q4 Results: Profit more than doubles to Rs 180 crore
IIFL Securities on Friday announced its net profit more than doubled to Rs 180.4 crore in three months ended March 2024 driven by strong growth in all the business segments.
Growth gems well positioned; large businesses to drive significant growth: Anish Shah, Mahindra Group
EV made a lot of sense because the expertise that we can get globally will help our businesses and which is why we were open to getting partners and they have added a lot of value in terms of what they bring and in other businesses, in growth gems in particular, we can look for global partners where we can get their insights and their guidance to be able to grow the business faster.
Our target is 15% to 20% EPS growth on a consistent basis: Anish Shah, Mahindra Group
I would say that the internal measures have had a much bigger role to play because as we have seen overall the auto industry is not growing at a very rapid pace and we have been far outpacing.
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