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Hero MotoCorp's net profit falls to Rs 794 cr in Q2FY22
Newsmen Business Desk -
The net profit for quarter 2 of the financial year 2020-21 stood at Rs 953.45 crore, indicating a fall in the net profit on a year-on-year (YoY) basis. The company said that its revenue from operations for quarter 2 of FY22 stood at Rs 8,453 crore and it had sold 14.38 lakh units during the Q2FY22.
SpiceJet net loss narrows down to Rs 561.7 cr in the second quater of 2021-22
Newsmen Business Desk -
The airline major's net loss stood at Rs 729 crore for the first quarter of the financial year 2021-2022. The company has managed to cut down on its net loss in Q2FY22. However, the net loss has widened on a year-on-year (YOY) basis. Spicejet Ltd. had reported a net loss of Rs 112.59 crore for quarter 2 of the financial year 2020-21.
India's smartphone market to exit 2021 with a low single-digit annual growth
Newsmen Business Desk -
Xiaomi continued to lead but shipments declined by 17 per cent YoY. Samsung, at the second slot, registered the highest YoY decline amongst the top 5 vendors at -33 per cent in 3Q21. vivo was at the third position, with a shipment decline of 13 per cent YoY.
Bank of Baroda records over 24% growth in Q2FY22 net profit
Newsmen Business Desk -
The state-run lender's net profits increased to Rs 2,088 crore from Rs 1,679 crore which was recorded in the previous fiscal year. Their net interest income (NII) also registered a growth of 2.11 per cent on a YoY basis and increased to Rs 7,566 crore in Q2FY22 from Rs 7,410 crore in Q2FY21
Falguni Nayar
Nykaa's founder Falguni Nayar is no stranger to India Inc
Newsmen Business Desk -
Notably, the stellar opening of Nykaa's stock listing on Wednesday has made Nayar one of the richest self-made billionaires in the country. Besides her, the stock's debut catapulted its promoters -- the Nayar family -- as one of India's richest self-made billionaires. At present, the promoter family holds around 53 per cent stake in FSN E-Commerce Ventures, which owns Nykaa.
General insurers log Rs 17,679 crore premium in Oct  
According to IRDAI, the 31-non-life insurers had earned a premium of Rs 17,679.98 crore last month up from Rs 15,906.71 crore earned in October 2020. Government owned The New India Assurance Company Ltd led the industry earning Rs 2,705.84 crore followed by ICICI Lombard General Insurance Company Ltd with Rs 1,675.29 crore and HDFC Ergo General Insurance with Rs 1,236.10 crore.
2021 wedding season likely to generate an estimated Rs 3 lakh cr
Around 25 lakh weddings are expected to be solemnised between November 14 and December 13. The CAIT cited that in Delhi alone, more than 1.5 lakh weddings are expected to take place in this season, which are likely to generate a business of about Rs 50,000 crore. Since March last year, the Covid-19 pandemic as well as the associated restrictions and few Muhurt dates have scaled down wedding spends.