G7’s Oil Price Cap Sanctions To Have Little Impact On Russian Revenue Immediately

Proposed G7 oil price cap to have little immediate impact on Russian revenue LONDON/NEW DELHI/MOSCOW: The Group of Seven (G7) nations’ proposed price cap of $65-$70 a barrel on Russian oil would have little immediate impact on Moscow’s revenues, as it is broadly in line with what Asian buyers are already paying, five industry sources […]

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BYJU’S Expects 3-Fold Growth In Revenue In FY’22

BYJU’s had booked a loss of Rs 4,588 crore for the fiscal year 2021. New Delhi: Edtech major BYJU’s expects to register a three-fold growth in revenue and losses to be halved in financial year 2022, according to a top company official. BYJU’s Founder and Chief Executive Officer (CEO)Byju Raveendran, at a startup event on […]

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G7 Price Cap on Russian Oil: What is the Mechanism, How Will It Affect Moscow’s Revenue

India stood to gain from the G7-imposed price cap mechanism on Russian oil, said US treasury secretary Janet Yellen and hoped the country will take advantage of it. She said as long as India did not avail of western insurance, finance and maritime services bound by this cap, the country could buy as much oil […]

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Paytm Q2FY23 revenue jumps 76% YoY to Rs 1,914 core

One97 Communications Limited that owns the brand Paytm announced its Q2FY23 financial results, reporting a 76% year-on-year (YoY) growth in revenue to Rs 1,914 crore and improvement of 61% YoY in EBITDA before ESOP cost by Rs 259 crore. Paytm said sustained growth in revenue has led to expansion in contribution profit, leading to a […]

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Qualcomm to Keep Supplying Apple With Chips in 2023, Q4 Revenue Forecast Falls Short of Estimates

Qualcomm’s forecast for holiday-quarter revenue fell about $2 billion (roughly Rs. 17,000 crore) short of Street estimates, as the chipmaker struggles with a slump in sales to smartphone customers, sending its shares down 7 percent in after-hours trading. The company also projected a lower-than-expected profit for the quarter, and said it expected a low double-digit percentage decline […]

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Flipkart India’s FY22 Net Loss Increases To Rs 3,413 Crore Despite Rise In Revenue

Flipkart India’s total expenses for the fiscal were reported at Rs 54,580 crore, Tofler said. New Delhi: E-commerce major Flipkart India’s consolidated net loss widened to Rs 3,413 crore in the financial year 2021-22 despite increase in revenues, according to financial data accessed by business intelligence platform Tofler. The Walmart group-owned firm had reported a […]

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Wal-Mart India FY22 loss widens to Rs 299 crore; revenue up 7% to Rs 5,350 crore

NEW DELHI: Wal-Mart India Pvt Ltd, which operates Best Price Flipkart wholesale stores, has witnessed its loss widening to Rs 299.01 crore in FY22 despite its revenue from operations going up, according to financial data accessed by business intelligence platform Tofler. Wal-Mart India, in which Flipkart acquired 100% interest in July 2020, had reported a […]

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Reliance Jio Q2 Result | Net Profit Rises 28% YoY To Rs 4,518 Crore, Revenue Grows 20%

Last Updated: October 21, 2022, 5:42 p.m On a sequential basis, Jio’s profit grew by 4 per cent. Performance was driven by higher net customer additions and increase in average revenue per user Reliance Jio Infocomm, a subsidiary of Reliance Industries’ digital unit Jio Platforms, reported year-on-year growth of 28 percent in its standalone net […]

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Net Profit Rises 7% YoY To Rs 3,489 Crore, Revenue Up 19.5%, Dividend Declared

IT major HCL Technologies on Wednesday reported a 7.05 per cent year-on-year increase in its consolidated net profit to Rs 3,489 crore for the September 2022 quarter (Q2FY23). The company’s revenue jumped 19.51 per cent during July-September 2022 to Rs 24,686 crore, compared with Rs 20,655 crore a year ago. HCL Tech’s net profit had […]

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Google Faces Another Probe by CCI After Allegations of Unfair Revenue Sharing Terms

The Competition Commission of India has ordered another detailed probe against Google for alleged unfair revenue sharing terms with respect to news content. The case will be clubbed with two other ongoing matters against the search engine major where the allegations are substantially same, according to the Competition Commission of India (CCI). The latest order […]

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At Rs 1.47 lakh crore, GST revenue up 26% in September

NEW DELHI: The gross GST revenue collected in September totalled Rs 1.47 lakh crore, the seventh month in a row in which receipts have been more than Rs 1.4 lakh crore, data released by the finance ministry showed on Saturday. The September revenue was 26% higher than the GST receipts in the same month last […]

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