Corporate News
Piramal Plans Adjustment of Rs 3,164 Crore AIF Exposure to Adhere to New RBI Directive
Breaking down the remaining Rs 3,164 crore, Piramal revealed that Rs 1,737 crore of downstream investments have been made by the AIF into three entities, which have been debtor companies of PEL (consolidated) in the last 12 months.
Mensa Brands Records a Loss of Rs 329 Crore in FY23 for D2C Operations
Despite the challenging financials, Mensa Brands demonstrated robust performance in terms of operating revenue, which climbed to Rs 1,317 crore in the fiscal year ending March 2023, a significant uptick from Rs 339.2 crore recorded in FY22.
Nothing's India Head Manu Sharma Steps Down, Company Wishes 'Best of Luck'
While Nothing mentioned Sharma's departure due to personal reasons, they praised his significant role in building the brand in India and extended best wishes for his future endeavors.
OYO Appoints Rakesh Kumar as Chief Financial Officer in Key Leadership Promotion
Ritesh Agarwal, OYO's Founder and CEO, expressed confidence in Kumar's leadership during efforts to enhance profitability and strengthen the company's financial foundation.
BlackBerry Names New CEO, Announces Division of IoT and Cybersecurity Business
Mike Daniels, Chair of the Compensation, Nomination, and Governance Committee, highlighted Giamatteo's extensive industry experience and track record, positioning him to steer BlackBerry's transformation.
Zerodha Founders Kamath Brothers' Compensation Hits Rs 200 Crore in FY23
Zerodha witnessed a 35.7% surge in employee benefits, reaching Rs 623 crore in FY23 from Rs 459 crore in FY22.
Ola Electric Records Surge in Net Loss to Rs 1,472 Crore in FY23 Amid Expanding Expenses
The electric vehicle company, on the cusp of its IPO launch, reported an EBITDA loss of Rs 1,318 crore, with total expenses soaring to Rs 3,383 crore, a stark contrast to the Rs 1,240 crore recorded in FY22.
Bumper Profits for BookMyShow: Records Rs 85 Crore Profit in FY23
On a unit level, the company spent Rs 0.96 to earn a rupee in FY23, according to reports from Entrackr. Income from ticket booking accounted for 66% of the total operating revenue, reaching Rs 648 crore in FY23, a significant increase from Rs 227 crore in FY22.
Mamaearth's Q2 FY24: Profit After Tax Doubles to Rs 30 Crore, Revenue Up by 21%
During the same period, Mamaearth's operating revenue climbed by 21% year-on-year, reaching Rs 496.1 crore compared to Rs 410.5 crore in Q2 FY23.
CEO of Binance Pleads Guilty, Resigns, and Agrees to $4.3 Billion in Fines
In his post on X, Zhao mentioned that Binance is no longer in its infancy, and it is time for him to step aside. Richard Teng, Binance's former global head of regional markets, will take over as the new CEO.
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