As rural areas show a revival in demand for fast-moving consumer goods (FMCG) products, the average FMCG basket size is growing, a new report by agencies Kantar and GroupM shows. The latest findings show that there is a nearly 60% rise in the FMCG basket size among rural consumers, from 5.8 in 2022 to 9.3
KFC-operator Devyani International Ltd (DIL) on Monday reported its quarter results for Q2FY25 with profit at Rs 1087.51 lakh in comparison to Rs 819.47 crore reported during the corresponding quarter of previous fiscal year. The Q2FY25 profit dropped by 99.9 per cent on-year. It posted revenue from operations at Rs 1222.16 crore, up 49.1 per
Zomato introduced a new feature on Monday called ‘Food Rescue’, designed to minimise food wastage from cancelled orders. Explaining the feature, Zomato said that when an order is cancelled, the meal will become available to nearby customers at an “unbeatable price” and in its original, untampered packaging. These orders will be delivered in just minutes
Amidst an antitrust investigation by the Competition Commission of India (CCI), online food delivery platform Zomato asserted that the company complies with Indian competition laws and emphasised its readiness to cooperate with the investigation. In a regulatory filing, Zomato said, “We will continue to work closely with the Commission to explain why all our practices
Go to Live UpdatesQ2 Earnings 2024 Live Updates: With majors like Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Reliance Industries, Mahindra and Mahindra, Bharti Airtel, HUL, ITC, Marico, Dabur India, Adani Wilmar, Nestle India, L&T, Adani Enterprises, Apollo Hospitals, Mankind Pharma, Dr Reddy’s Laboratories, GAIL, LIC, SBI, Punjab National Bank, Axis Bank
The big boys of India Inc have put up a relatively poor show in Q2FY25 so far compared with smaller companies, with their net sales for the September quarter rising just 3% year-on-year. This has dragged down the aggregate sales growth for a sample of 1,237 companies (excluding banks and financials and oil marketing companies)
India’s coal production from captive and commercial mines, that is output from firms other than core miners like Coal India and its arms, reached over 100 million tonnes as of November 8, according to the data from coal ministry. The cumulative production of coal from these producers reached 100.08 million tonnes as on date this
Weak numbers from the India Inc for the July-September quarter have led to the biggest downgrades in earnings estimates since early 2020, according to Jefferies. The brokerage firm said it has downgraded earnings estimates for 63% of the 121 companies under its coverage that have reported their latest quarterly results. The underwhelming growth in the
Central Goods and Services Tax (CGST) officials in the recent months have investigated over two dozen textile manufacturing companies across the country for mis-classifying textile processing activities and subsequently paying lesser tax. According to official sources, the CGST department has observed that several textile manufactures are recording activities which involve ‘changing the nature of cloth’
Artificial intelligence (AI) is being used for “collusion” by sections of Indian industry, Ravneet Kaur, chairperson of Competition Commission of India (CCI) said on Sunday, adding that the regulator would equip itself to deal with it. “Companies are using AI to coordinate prices without explicit agreements, and are engaging in algorithmic discrimination under the garb
Owning a home is one of the most significant steps toward financial security, both for individuals and families. While men have traditionally taken the lead in property purchases in India, the trend is gradually changing, with more women actively investing in real estate. Recognizing this shift, both state governments and financial institutions have introduced various
The National Capital Region Transport Corporation (NCRTC) is set to launch a co-working space, named MetroDesk, at the Ghaziabad Namo Bharat Station soon. This innovative initiative aims to turn urban transit areas into dynamic business hubs, introducing a pioneering coworking model within the Namo Bharat network. MetroDesk is tailored for professionals, entrepreneurs, and small businesses
8th Pay Commission News: The long-standing demand for the restoration of commuted pensions is again in discussion. Currently, this pension is restored after 15 years, but employee organisations want the government to cut this commutation period to 12 years. Now, after the announcement of the 8th Pay Commission, employees are hopeful that the government may
