Revenue Collection

Punjab's revenue from VAT, CST, GST crosses Rs 30,000 cr in Apr-Dec: Cheema

Punjab Finance Minister Harpal Singh Cheema on Thursday said the state has, for the first time, surpassed the Rs 30,000-crore mark in revenue collection as VAT, CST, GST, PSDT (state development tax), and excise in the first nine months of a fiscal year. "In the current fiscal year, the total revenue received from these taxes up to December is Rs 31,156.31 crore, whereas in the fiscal year 2023-24, the total revenue collection from these taxes was Rs 27,927.31 crore," Cheema said in an official statement here. Cheema said the state has also witnessed a significant increase in its net GST and excise revenue for December 2024 compared to December 2023. The state registered an impressive 28.36 per cent increase in net GST revenue and a 21.31 per cent increase in excise revenue, he added. The finance minister further said the revenue collection from net GST alone in December 2024 was Rs 2,013.20 crore -- an increase of Rs 444.84 crore from the net GST collection of Rs 1,568.36 crore in

Dilip Buildcon Q2 results: Net profit rises threefold to Rs 235 crore

However, the company reported a decline in its revenue from operations

Suven, Cohance aim to double combined biz revenue to Rs 6,000 cr by FY29

Merger-bound Suven Pharmaceuticals and Cohance Lifesciences aim to more than double their combined revenue to around Rs 6,000 crore by FY29 by undertaking both organic and inorganic growth routes, a top company official said. The entities reported a combined revenue of Rs 2,392 crore in FY24. The merged entity aims to put in place an aggressive plan to more than double revenue to Rs 6,000 crore by FY29 through both organic and inorganic growth routes, Suven Pharma Managing Director Prasada Raju said. The merger between Suven and Cohance has received approval from both NSE & BSE. As directed by National Company Law Tribunal (NCLT), the shareholders meeting of both Suven Pharmaceuticals and Cohance Lifesciences amalgamation will be held on November 28, 2024. Once finalised and approved, the combined entity will focus on three core growth drivers: pharma CDMO, specialty chemicals CDMO, and active pharmaceutical ingredients (APIs). "Together, we're building a powerhouse poised to ...

Pillar Two tax regime unlikely soon as India proceeds with caution

It is proceeding cautiously and is unlikely to implement the rules anytime soon

Borosil Group expects to cross Rs 7,000-crore revenue mark in 4 years

Borosil, which operates in glassware, laboratory equipment and solar glasses, is expecting to double its revenue to Rs 7,000 crore in the next four years, led by double-digit growth from across its business verticals, its Executive Vice Chairman Shreevar Kheruka has said. The Kheruka-family promoted Borosil Group, which operates with three listed entities under its fold -- Borosil Ltd, Borosil Renewables Ltd, and Borosil Technologies Ltd -- expects to reach a revenue close to Rs 3,500 crore in FY25. It plans to invest Rs 250 crore for expansion and capacity augmentation to meet the demand, in which it intends to invest about Rs 150 crore on a new plant in Gujarat for Borosil Ltd, which is in the business of products such as glassware and cookware, said Kheruka. Besides, at its Jaipur unit, where Borosil has already invested Rs 450 crore to expand the production capacity, it has plans to invest Rs 100 crore for debottlenecking to improve efficiency and increase capacity ...

Nike withdraws annual revenue forecast, signals weak holiday season

Analysts say the company is yet to see benefits from its drive to fast-track innovation and revive demand through new product launches like Air Max Dn and Pegasus 41

Deloitte eyes $5 billion revenue from Indian biz by 2030: South Asia CEO

Global accounting firm Deloitte is targeting a 4 times growth in its revenue from India business to USD 5 billion (about Rs 40,000 crore) by 2030 and become an "undisputed leader" in professional services, its South Asia CEO Romal Shetty said. Deloitte's India business revenue touched Rs 10,000 crore mark in 2023-24 fiscal (June 2023-May 2024), a growth of 30 per cent. "We are the fastest growing professional services firm of the country. We want Deloitte India revenues to be Rs 20,000 crore by 2027 and USD 5 billion by 2030," Shetty told PTI. He said Deloitte India contributed 10 per cent to the growth in global revenue, and 70 per cent to Asia Pacific's growth. Deloitte's aggregate global revenue grew 3.6 per cent to USD 67.2 billion for the fiscal year ended May 31, 2024. "We disrupted the marketplace in 2023-24 with Rs 10,000 crore revenue. Our aim is to become the undisputed leader in professional services, distinguished by our quality, brand, well-being, and scale. Success f

Goa Shipyard logs record revenue of Rs 1,753 cr from operations in FY24

Goa Shipyard Ltd (GSL) has achieved the highest-ever revenue from operation of Rs 1,753 crore in FY24, a top company official said on Wednesday. Addressing the 58th annual general meeting of GSL, Chairman and Managing Director Brajesh Kumar Upadhyay said the company has achieved a remarkable growth and significantly outperformed its past achievements on all financial parameters. He said the company achieved 100 per cent growth in gross revenue, surpassing the Rs 2,000 crore mark for the first time during the fiscal. The CMD said the company has achieved record revenue from operations of Rs 1,753 crore, representing 102 per cent growth year-on-year. Profit before tax was 78 per cent higher at Rs 365 crore. Profit after tax stood at Rs 271 crore compared to Rs 155 crore last year. He stated that the order book stood at Rs 18,562 crore as on Mar 31, 2024, giving stable revenue visibility for the coming years. Upadhyay said the earnings per share jumped 76 per cent from Rs 13.28 to Rs

Big overseas buys: Boost for footprint, mixed bag for bottom line

Profitability has been a mixed bag amid operational challenges

Govt committed to fairness, simplicity, equity in tax system: Revenue secy

Revenue Secretary Sanjay Malhotra on Saturday said the government remains committed to fairness, simplicity and equity in the tax system. He said the government's ongoing efforts are to simplify tax laws, improve tax compliance, and support economic growth through prudent fiscal policies and the Union budget was in that direction. Union Finance Minister Nirmala Sitharaman had said a comprehensive review would be done on direct taxes over the next six months aiming at making direct taxes simpler to reduce disputes. "Tax growth had reached 14 per cent, outpacing GDP growth due to better compliance and collection efficiency," Malhotra said in a post-budget interactive session with stakeholders. He commended both tax administrators and taxpayers for their efforts and asked for continued cooperation to further enhance tax compliance and administration. Malhotra assured taxpayers that the government aims to simplify and make it easier to understand and make the process as hassle-free as

Cognizant Q2 net rises 22% to $566 mn, revises FY24 guidance to $19.5 bn

Cognizant has revised its full-year revenue growth guidance for FY24 from $19.3 billion to $19.5 billion, representing a growth of -0.5% to 1%

Top firms' profit drop led to cut in corporation tax forecast: Revenue secy

In conversation with Shrimi Choudhary, the senior bureaucrat discusses several tax-related announcements in the Union Budget

India becomes third country in revenue per cent growth for Netflix in Q2

Propelled by the popularity of titles such as Heeramandi: The Diamond Bazaar, The Great Indian Kapil Show and Amar Singh Chamkila, India has emerged as the third country in revenue per cent growth for streaming service Netflix in its second quarter. The streamer released its second quarter earnings for 2024 on Thursday and Indian content seems to have made significant strides this year alongside popular international shows such as Bridgerton 3, Baby Reindeer, Korean drama Queen of Tears and films such as Hit Man and Under Paris. India and the UK have had especially strong slates this year, according to the streamer. In Q2, India was the second and third country in terms of paid net adds and revenue per cent growth, respectively due to the success of titles like Sanjay Leela Bhansali's Heeramandi: The Diamond Bazaar, which had 15 million views to become the streamer's biggest Indian drama series ever. Imtiaz Ali-directed biopic Amar Singh Chamkila with 8.3 million views was another

Coal India awards 23 discontinued underground blocks to private miners

State-owned Coal India on Wednesday said it has awarded 23 discontinued underground blocks to private miners through an auction route on revenue sharing model. The cumulative peak rated capacity of these mines is 34.14 million tonnes per year while the total extractable reserves are estimated at 635 MT, the miner said in an exchange filing. "Coal India Limited (CIL) in a bid to tap the latent coal reserves of some of its closed and discontinued underground mines has awarded 23 such mines on revenue sharing model to successful bidders of the private sector," it said. Earlier, CIL had identified a total of 34 discontinued mines where good quality coal reserves are lying dormant but may not be financially viable for CIL to mine them. Hence, the company said it decided to tender and offer these mines to willing private sector players who are prepared to operate and produce the dry fuel and share part of the revenue with the company. "Successful bidder is the one who offers the maximum

Pre-Budget talks: Industry bodies suggest tax reforms to revenue secy

The PHDCCI said that the slab of 30 per cent income tax should be raised to the income of Rs 40 lakh and above. Below this, the body said, the tax rate should be kept at 20-25 per cent

Alcatel-Lucent Enterprise eyes €100 million revenue from India in 3-5 years

Headquartered in Paris, France, ALE has a presence in more than 50 countries globally. In India, the company has around 250 employees

NDMC's revenue collection for FY24 stands at Rs 3,795 cr, exceeds target

The New Delhi Municipal Council's revenues for the 2023-24 financial year exceeded its target, with property tax collection crossing the Rs 1,000-crore mark for the first time in its history, officials said on Wednesday. The New Delhi Municipal Council (NDMC) collected a revenue of Rs 3,795.30 crore from receipt sources such as property tax, licence fees, commercial revenue (water and electricity) and parking fees, it said in a statement. For the first time in the NDMC's history, the revenue from property tax crossed the Rs 1,000-crore mark, it said. "The NDMC has collected Rs 1,025.59 crore in property tax against a target of Rs 1,150 crore. The NDMC had collected property tax revenue of Rs 931.20 crore in 2022-23, Rs 950.75 crore in 2021-22 and Rs 690.78 crore in 2020-21," it added. During the 2023-24 fiscal, the NDMC collected Rs 1,811.71 crore in revenue from electricity and water supply against a target of Rs 1,659.95 crore. It had collected commercial revenue of Rs 1,503 cror

Indian pharma companies bank on 'mother brands' to boost revenue growth

An analysis by market research firm Pharmarack showed how such flagship brands have posted strong growth CAGR in the last five years, with some even doubling sales

Defying trend: Earnings growth no match for rally in CPSU stocks

Valuation rerating largely behind surge in mcap

PepsiCo records mid-single digit organic revenue growth in India in 2023

India posted a double-digit volume growth in the beverages category, while recording a low-single-digit volume decline in the convenient food category