BUSINESS
Zomato narrows net loss to Rs 188 cr in Q4, revenue up 70% YoY
The company reported consolidated revenue at Rs 2,056 crore, a 70 per cent jump from Rs 1,211.8 crore in the year-ago period. In FY23, Zomato's loss went down to Rs 971 crore from Rs 1,209 crore a year ago as revenue increased around 70 per cent to Rs 7,079 crore.
RBI may cancel license of ARCS after Income Tax report
RBI had earlier sent show cause notices to a few asset reconstruction companies (ARCs), seeking answers on why their licenses should not be cancelled, as per media reports. RBI is contemplating cancelling the licenses of four Asset Reconstruction Companies (ARCs) namely, Omkara Asset Reconstruction Pvt Ltd, Rare Asset Reconstruction Pvt Ltd, CFM Asset Reconstruction Pvt Ltd, and Invent ARC Pvt Ltd.
No evident pattern of manipulative contribution to price rise: SC panel on Adani-Hindenburg row
The committee said Sebi has also found that some entities have taken short positions prior to the publication of the Hindenburg report and have profited from squaring off their positions after the price crashed upon publication of the report.
China becomes world's biggest exporter of cars after overtaking Japan
China exported 1.07 million vehicles in the period, up 58 per cent compared to the first quarter of 2022, the BBC reported. At the same time Japan's vehicle exports stood at 954,185, after edging up 6 per cent from a year earlier. China's exports were boosted by demand for electric cars and sales to Russia.
India e-tailing market reached $60 bn in GMV in FY23
With 210 million annual shoppers, ads monetisation contributed $1.2 billion in revenue for Indian e-tailers in FY23, growing at 37 per cent year-on-year, according to Redseer Strategy Consultants.
Russia plans to export up to 60mn tonne of grain this year
According to a press statement issued by the Kremlin, Putin added on Thursday that by the end of the agricultural year 2022-2023 (from July 1, 2022 to June 30, 2023), Russian grain exports are expected to reach about 55 to 60 million tonne. The Russian President noted that despite the barriers in foreign trade.
Dwarka Expressway: Gadkari inspects country's first elevated highway
Gadkari was accompanied by Union Minister of State for Statistics and Programme Implementation and Planning (Independent Charge) and Gurugram MP Rao Inderjit Singh; Union Minister of State for Road Transport and Highways and Civil Aviation VK Singh; and Delhi Lieutenant Governor VK Saxena. Delhi MPs Parvesh Verma and Ramesh Vidhuri were also present.
ITC reports strong growth momentum across operating segments for quarter, year ended March 2023
Together with the interim dividend of Rs 6 per share paid on March 3, total dividend for the financial year ended March 31, 2023 amounts to Rs 15.50 per share (FY22: Rs 11.50 per share). The company said that strong growth momentum sustained across operating segments.
Medtronic to expand base, Warner Bros. to set up shop in Hyderabad
With this fresh investment, Medtronic's cumulative investment in Hyderabad becomes about half a billion USD, said state's industry minister K. T. Rama Rao on Thursday. The fresh investment was announced when the minister met the company's leadership team in New York.
BharatPe appoints Sandeep Indurkar as CBO-Banking & Alliances
"I look forward to strengthening the market for BharatSwipe and Speaker. Also, I look forward to fostering the right partnerships with relevant players in the financial services ecosystem, with the objective of making a larger impact across merchant businesses," Sandeep Indurkar said in a statement.
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