As the strike enters its fifth week, the losses are mounting up for the Bollywood film industry. Big budget movies like Kambhakt Ishq, Blue and New York have had to postpone their release dates, and all movie promotions have come to a standstill.
Retaining the GST rate assumes importance since states are under pressure to increase their revenues, hit hard by lockdown. Also, the Centre has not fully compensated states for their revenue losses on account of GST for 2019-20.
Analysts are worried about a fall in load factors in domestic as well as international sectors.
Consolidated earnings of Bharat Forge in Q3FY23 missed estimates, largely due to higher-than-expected interest burden, although operational numbers (including standalone numbers) were close to consensus. Still, the management guidance was positive and appeared to be based on logic.
Pakistan Cricket Board has suffered massive revenue losses but it doesn't need India to 'survive' and keep its finances flowing, PCB chairman Ehsan Mani said on Tuesday. Terming the BCCI as 'unreliable', Mani said Pakistan cricket is vibrant and strong enough despite not playing any bilateral series with India for a long time now.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
Though the Dharmadhikari report expects Air India would be cash surplus by eight years, the efforts are on so that it happens earlier.
Telecom infrastructure player Indus Towers has been largely ignored by investors with occasional bursts of trading when there's news flow. For example, the stock fell from Rs 188 (Jan 1, 2023) to Rs 135 (Jan 27) and then bounced back to Rs 165 in early February as the Government of India (GoI) converted Vodafone Idea's (Vi) debt into equity and Bharti Airtel pushed up its direct stake in Indus to 47.95 per cent. The cash-strapped Vi holds 21 per cent stake in Indus Towers and Indus also has substantial receivables to come in from Vi which is a negative overhang.
Avenue Supermarts, the operator of DMart retail chain, reported good results for the July-September quarter (Q2FY24) with strong earnings before interest before interest, taxes and depreciation (Ebitda) and profit before tax (PBT) growth, but lower PAT due to higher tax incidence. The operating margin improved, and like-to-like store sales growth was strong. Average bill value also increased though this may be a seasonal effect to some extent. Analysts are assuming this means the slowdown in retail may have bottomed out.
Burdened by high fuel and labour costs, cash-strapped Air India suffered a net loss of Rs 5,548 crore (Rs 55.48 billion) in 2008-09, as its total revenue declined by around Rs 2,000 crore (Rs 20 billion) compared to the previous fiscal.
Mutual funds (MFs) have lined up information technology (IT) funds, indicating that technology stocks are back on fund managers' radar after a hiatus. Over the past 18 months, stock prices for companies in the software space have either corrected or remained subdued. Fund houses have launched five IT-based sectoral funds in the past three months, with three of them taking the passive route.
The June quarter turned sour for MindTree as forex losses pushed the company into the red despite logging strong growth in revenues.
If alcohol-based sanitisers can kill coronavirus on the hands, there is no reason why alcoholic drinks may not kill the virus in tipplers' throats, a Congress MLA has argued, seeking the reopening of liquor shops in Rajasthan. Congress MLA Bharat Singh Kundanpur put forward the argument in all seriousness in his letter written to Rajasthan Chief Minister Ashok Gehlot on Thursday, urging him to open liquor shops in the state.
Jet Airways returns to profit after seven straight quarterly losses
Inclusive of the July hike of 25 paise, a monthly increase of similar amount would result in a saving of Rs 2.25 a litre for the current financial year alone.
The Supreme Court on Thursday asked Ten Sports to file within two weeks documents detailing the total advertisement revenue it got during the simultaneous telecast of Indo-Pak cricket series on its channel and Doordarshan.
The ED had attached Sai Resort NX, constructed over the land located at Gut no: 446, Murud in Ratnagiri's Dapoli, in January.
Taiwan in 1951 came up with an ingenious plan to improve tax compliance: citizens taking receipts for purchases could use them as lottery tickets. Customers were incentivized, and businesses found it hard to evade taxes. The plan's success prompted other countries, Slovakia and Greece among them, to launch similar initiatives. India doesn't seem to find the need yet for such schemes amid surging goods and services tax (GST) collections.
After being left unchanged for more than 10 months, diesel prices may see an increase of around Rs 2 per litre next month, providing marginal relief to the oil marketing companies (OMCs) that incur a loss of Rs 16.10 on selling every litre.
Canadian handset maker BlackBerry on Friday said it has narrowed its net loss for the second quarter ended August 31, 2014 to $207 million compared to the previous year helped by increased adoption of its BlackBerry Enterprises Service (BES) and handset sales.
Hospitals to recover from sluggish Q3; diagnostics' growth rate at pre-Covid levels.
The Mumbai-based real estate developer Oberoi Realty has been one of the top-performing companies in its segment and most brokerage remains bullish on the stock. The company's stock price is 52 per cent in the last 12 months beating the broader market by a huge margin. The benchmark BSE Sensex is up just 6.5 per cent during the period.
Edtech major Byju's is learnt to have closed $250 million fundraising from Davidson Kempner Capital and is in the process to close another funding round of $750 million by the end of this month, sources aware of the development said on Friday. The company has raised $250 million at a flat valuation of $22 billion, sources said. "Byju's has successfully closed a $250 million fundraising from Davidson Kempner Capital Management.
PCB Chairman Ehsan Mani had insisted that although the PCB had suffered losses because of absence of series against India but it can live without playing them. The PCB also faced financial disagreements with its last broadcaster over the unscheduled home series against West Indies etc.
Formula One drivers expressed shock after the sport's governing body quadrupled the amount stewards can fine them to a maximum of one million euros ($1.06 million).
Microsoft also took a charge of $940 million related to job cuts announced this month and last year.
A shorter tournament will mean a smaller share from the shrunken central pool of revenues for the eight IPL franchises, not to mention a reduction in gate receipts. Cricket Australia stands to lose some A$300 million ($174 million) should the coronavirus outbreak derail their high-profile home test series against India later this year.
The Australian cricket team is celebrating its Test demolition of India but the country's Board and broadcasters of the lopsided series have been left to count their losses running into millions of dollars in advertising revenue and gate-earnings.
States are planning to pass resolutions in their legislative assemblies; however, such tactics will be used as the last resort if the Centre continues to stall allocations.
With another quarter of steady growth in demand, cement companies are expected to report strong year-on-year (Y-o-Y) growth in earnings, according to analysts. The September quarter (Q2FY24) also witnessed a resumption of price hikes in certain markets. UltraTech Cement, India's largest cement producer, reported a 15 per cent Y-o-Y increase in cement sales in the country for the quarter under review.
Sify Limited, India's premier Internet, network and e-commerce services company, announced on Wednesday its consolidated US GAAP results for the quarter ended June 30th 2005.\n\n
The Central Sales Tax is imposed by the Centre but revenue goes to the states.
Byju's is planning to raise $500-600 million from Abu Dhabi's sovereign wealth funds and existing investors, according to sources, as the start-up world is facing a funding freeze. The educational technology (edtech) giant targets profitability by March next year. "There is no change in Byju's valuation. The new fundraising process is still going on," said a person familiar with the matter. "Any new valuation would be determined in the futureByju's is planning to raise $500-600 million from Abu Dhabi's sovereign wealth funds and existing investors, according to sources, as the start-up world is facing a funding freeze. The educational technology (edtech) giant targets profitability by March next year. "There is no change in Byju's valuation. The new fundraising process is still going on," said a person familiar with the matter. "Any new valuation would be determined in the future as it is very tough for investors to do that in this environment." as it is very tough for investors to do that in this environment."
The growth in personal loans for fintech major Paytm may remain muted in the future and not replicate a three-digit year-on-year (Y-o-Y) growth that it recorded in the previous years, a person familiar with the matter said. Sources said the personal loans book may grow in the range of 30 to 40 per cent Y-o-Y on its current base. On a quarter-on-quarter (Q-o-Q) basis, the number of personal loans the Noida-based fintech company disbursed has dropped 20 per cent from 0.3 million in the first quarter of this financial year (Q1FY24) to 0.24 million in Q2FY24, according to regulatory filings.
The 2014 Australian Grand Prix posted a record A$59.97 million ($55 million) loss amid soaring costs and declining revenue, government officials said on Wednesday.
IOC urged the government to cut excise duty by Rs 8 (the current revenue loss) to Rs 6.78 per litre. It also demanded a cut in state-level taxes.
Chaudhari was released from Arthur Road Jail in central Mumbai after completion of formalities, including furnishing of a cash bail of Rs 1 lakh, his lawyer Mohan Tekavde said.
As the heavy rains continued on Wednesday also, Orange alert was sounded in 12 of the 14 districts of the state for the day.
The 41st meeting of the GST Council, to be held via video conferencing, has just one agenda for discussion -- making up for shortfall in states' revenues, sources said.
Tottenham Hotspur posted a loss of 4.3 million pounds last season mainly because they did not play in the Champions League, the Premier League club said on Tuesday.
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