Page 2 - Revenue Collection

Bharti Airtel Q3 results: Consolidated net profit rises 54% to Rs 2,442 cr

ARPU rises to Rs 208 from Rs 203 in Q2

Average monthly GST collection may touch Rs 1.7 trn in FY25: CBIC chairman

Customs duty collection may go up if global activities improve but targets can be pegged on the basis of trends only, he says

Tinder-parent Match forecasts weak revenue on lower spending on dating apps

It forecast 2024 revenue of between $3.57 billion and $3.67 billion, representing a growth of 6 per cent to 8 per cent compared with an estimate of 7.8 per cent

Wipro sees pressure on revenue growth in Q4; net profit falls 12% in Q3

Margins for the second quarter are likely to be "range-bound" similar to the last few quarters, the management said during a media briefing

Ola's parent ANI Technologies posts Rs 2,800 crore revenue in FY23

The firm also has cut down its losses by nearly 50 per cent to Rs 772 crore during FY23 compared to Rs 1,522 crore in FY22, according to media platform Entrackr

GSP Crop Science eyes Rs 1,800 cr revenue in FY25; 6-7% mkt share in 4 yrs

Agrochemicals manufacturer GSP Crop Science is eyeing Rs 1,800 crore in revenue in 2024-25, following its domestic as well as overseas market expansion, a top company executive has said. "In 2022-23, our annual revenue was at Rs 1,600 crore. We are looking at Rs 1,800 crore revenue in FY25. Overall our target is to reach Rs 2,500 crore in next 3-4 years with the addition of overseas business especially in Brazil," GSP Crop Science Managing Director Bhavesh Shah told PTI. Shah said the company is working towards reducing its dependency on China for raw materials and planning to produce intermediaries needed to develop crop solution products. "In order to reduce our raw material dependency on China, we are planning to gradually produce intermediaries needed for manufacturing our products. We are setting up our third manufacturing unit in Dahej in Gujarat with an investment of Rs 100-110 crores. In this unit we will initially produce 4 intermediaries," he added. The company is focusin

Bihar withholds salaries of mineral dev officers over unmet revenue target

The Bihar government has withheld salaries of several district mineral development officers who have allegedly failed to meet the target of revenue collections in their respective areas in the current financial year so far, officials said on Sunday. The Mines and Geology Department of the state government has sought explanations from such officers in Jehanabad, Gaya, Munger, Jamui and Aurangabad for "failing to meet the target of revenue collections till December 2023 in their respective districts", they said. The department has managed to achieve around 42 per cent of its revenue target of Rs 3,590.66 crore for 2023-24 from the mining sector as it could collect just Rs 1,500 crore till December 2023, a senior official of the department said. "Yes, the department has withheld the salaries of several district mineral development officers who failed to meet the target of revenue collections in their respective areas till December end of the current financial year. "With the revenue .

Black Box eyes 3x growth to $2 bn by 2027 with focus on critical infra

Indian IT company Black Box is expecting a threefold increase in revenue to USD 2 billion over the next three years, driven by demand for critical technological infrastructure. Black Box President and CEO Sanjeev Verma told PTI that focusing on digital infrastructure, connectivity, networking, modern workplace cybersecurity, along with artificial integration, is going to provide a huge runway to the company. "I think we see the future for digital infrastructure business ramping up on the back of hybrid activity on the data centre side, requirement for people to collaborate across continents and cultures, hybrid workplaces that have become a norm post-Covid." "We are looking at double-digit growth organically over the next few years and expect to push towards USD 2 billion (Rs 16,632 crore) revenues in the next three years," Verma said. The company had reported a consolidated revenue of Rs 6,233 crore in FY23, as per a BSE filing. Black Box works with big tech companies like Amazon

UP CM seeks explanations from 12 DMs on negligence in revenue matters

Additional Chief Secretary of the Revenue Board, Sudhir Garg, emphasized that the Chief Minister has placed special importance on the swift resolution of revenue matters

Cars24 reports revenue of Rs 5,535 cr in FY23, 8% increase from FY22

The company reported profit before tax (loss) of Rs 467.8 crore in FY23 compared to Rs 1093.1 crore in FY22

See huge opportunity to expand in Tier-II, says Marks & Spencer India

Ritesh Mishra, managing director at M&S India, said, "Tier-II cities are of paramount importance to us, as there is still room for growth in Tier-I markets"

Footwear industry to record 11% revenue growth this fiscal: Report

Softening input cost and rising demand will help the footwear industry to record an 11 per cent growth in revenue this fiscal, says a report. Footwear demand is seen clipping at 4 percent this fiscal, Crisil Ratings said in the report Tuesday. Prices of key inputs such as ethylene vinyl acetate, rubber and resins have fallen 30 per cent in the past fiscal. Raw materials constitute around 45 per cent of the total cost of footwear makers. The resultant healthy cash accrual and balance sheets will keep their credit profiles stable, as per the report that is based on an analysis of 43 footwear companies, which account for 15 per cent of the industry revenue of Rs 1 lakh crore. Softening input cost will boost operating margin by about 125 basis points to 9 per cent, which will still be below the pre-pandemic levels of 10 per cent, the report said. Exports, which constitute a fifth of the sectoral revenue, is seen slowing to 12 per cent this fiscal compared to a 25 per cent uptick last

Vodafone Idea Q1 net loss widens to Rs 7,840 cr, revenue up by 2.3%

Debt-ridden telecom operator Vodafone Idea on Monday said its consolidated net loss widened to Rs 7,840 crore in the first quarter ended June 30. The company had posted a net loss of Rs 7,295.7 crore in the same period a year ago. The consolidated revenue from operations during the reported quarter increased marginally by 2.3 per cent to Rs 10,655.5 crore from Rs 10,406.8 crore in June 2022 quarter. VIL's average revenue per user (ARPU) of the company during the June quarter increased to Rs 139 from Rs 128 a year ago.

Easy Trip Planners Q1 profit down 22% to Rs 26 cr, revenue at Rs 124 cr

Online travel service provider Easy Trip Planners Ltd on Monday reported a 21.82 per cent decline in consolidated net profit at Rs 25.9 crore for the June quarter. The company had posted a consolidated net profit of Rs 33.13 crore in the year-ago quarter, Easy Trip Planners, which operates under the brand EaseMyTrip, said in a regulatory filing. Consolidated revenue from operations during the first quarter of the current fiscal stood at Rs 124.05 crore, as against Rs 87.58 crore a year ago, it added. Total expenses were higher at Rs 91.56 crore, as compared to Rs 47 crore in the same period a year ago, the company said.

SJVN net profit declines 55% to Rs 272 cr in Q1 due to lower revenues

State-owned power producer SJVN Ltd on Wednesday reported an over 55 per cent dip in its consolidated net profit to Rs 271.75 crore in the June quarter, mainly due to lower revenues. The company had reported a consolidated net profit of Rs 609.23 crore in the year-ago quarter, the company said in a BSE filing. Total income of the company declined to Rs 744.39 crore in the first quarter of the current fiscal from Rs 1,072.23 crore in the year-ago period.

India Cements Q1 net loss at Rs 73.58 cr, revenue dips 5% to Rs 1,436.74 cr

India Cements Ltd on Monday reported a consolidated net loss of Rs 73.58 crore in the April-June quarter mainly due to reduction in selling price and loss of volume. The company had posted a net profit of Rs 83.83 crore during the April-June quarter a year ago, India Cements Ltd (ICL) said in a regulatory filing. Its revenue from operations fell 5.12 per cent to Rs 1,436.74 crore during the period under review as against Rs 1,514.35 crore in the corresponding quarter of previous fiscal. "The selling price of cement was lower during the quarter under review due to severe competition caused by supply overhang. There was a reduction in variable cost during the quarter on account of softening of fuel prices," ICL said an earnings statement. The reduction in variable costs was offset by the reduction in realisation resulting in lower margins, it added. "The lower margins impacted the liquidity severely resulting in lower volume for the quarter. The overall sales volume almost remained

IndiaMART Q1FY24 results: Net profit up 78%, revenue from ops rises 26%

IndiaMART registered traffic of 254 million and unique business enquiries of 22 million in Q1FY24

Delhi govt sets up GST registration cell to boost revenue collection

The Delhi government has set up a centralised GST registration cell Sewa Kendra to improve the registration process, combat tax evasion and boost revenue, said an official statement on Tuesday. Setting up of the Sewa 'Kendra' marks a significant milestone in the journey towards improving the GST registration process, Delhi Finance Minister Kailash Gahlot said. "Under the able leadership of Chief Minister Arvind Kejriwal, it is a testament to the Delhi government's commitment to promoting transparency, curbing tax evasion and optimising revenue collection," the minister said. The Trade and Taxes Department of the Delhi government has taken a significant step towards improving the GST registration process with the establishment of the centralised GST registration cell. This new initiative aims to streamline the registration process, minimise deemed registrations, and combat tax evasion, thereby safeguarding government revenue, the statement read. The primary objective of the cell is

Indian IT firms to see revenue decelerate by 5%: S&P Global Ratings

S&P Global Ratings rates the three top IT services players: Infosys, HCLTech, and Wipro

Automobile dealership industry revenues to grow by 11-13% in FY24: Icra

Aided by robust sales, revenues of domestic automobile dealership industry are expected to grow by 11-13 per cent in the current fiscal, rating firm Icra said on Thursday. The revenue growth this fiscal will be aided by expected 6-9 per cent volume growth and an increase in vehicle prices during the current financial year, it added. Factors like improving consumer sentiments, as seen through a continued preference for personal mobility and rising disposable income, easing supply-side constraints, better features in the new product models, change in product-mix with increasing skew towards high-priced vehicles, etc., are expected to favourably support the sales growth in the consumer segment, Icra said. In the commercial segment, improving economic activities, rising spends in infrastructure and mining activities, a stable financing environment shall support the growth, it added. Potential headwinds could arise from adverse monsoons or the occurrence of the El Nino and its impact on