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<keyword id="19938730" type="General" weightage="20" keywordseo="TVS-Motor" source="keywords">TVS Motor</keyword> Company on Tuesday said its consolidated net profit increased 6 per cent to Rs 461 crore for the first quarter ended June 30, 2024, riding on the back of robust sales. The company had reported a net profit of Rs 434 crore in the April-June quarter of last fiscal. Total income rose to Rs 10,448 crore for the period under review as compared to Rs 9,142 crore in the year-ago period, TVS Motor Company said in a regulatory filing. On a standalone basis, the company posted a profit after tax of Rs 577 crore for the first quarter as compared to Rs 468 crore in the June quarter of the last fiscal, it added. Total income rose to Rs 8,412 crore for the first quarter as against Rs 7,275 crore in the year-ago period. The company said its overall two-wheeler and three-wheeler sales including exports grew 14 per cent year-on-year, registering sales of 10.87 lakh units in the quarter ended June 2024 as against 9.53 lakh units registered in the quarter ended June 2023. Motorcycle sales grew by 11 per cent year on year at 5.14 lakh units in the first quarter as against 4.63 lakh units in the same period last fiscal. Scooter sales grew by 19 per cent year-on-year to 4.18 lakh units in the April-June quarter this year. Three-wheeler sales for the quarter under review stood at 31,000 units as against 35,000 units in the year-ago period, TVS said. Electric scooter sales for the quarter ended June 30, 2024, stood at 52,000 units as compared to 39,000 units in the April-June quarter of last fiscal. Shares of TVS Motor Company on Tuesday ended 0.75 per cent down at Rs 2,474.45 apiece on the BSE. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a> <a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms">Neeraj Chopra qualifies for finals with a first throw of 89.34m – top rivals to look out for</a>

TVS Motor Q1 profit rises 6% to ₹461 crore; total income at ₹10,448 crore

Shares of <keyword id="20021345" type="General" weightage="20" keywordseo="TVS-Motor-Company" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motor Company" meta.hostid="261" meta.entityid="TVS Motor Company">TVS Motor Company</keyword> on Thursday climbed over 6 per cent after the company's consolidated <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> increased 15 per cent for the fourth quarter ended March 2024. The stock went up 5.73 per cent to Rs 2,121.30 on the BSE. On the NSE, it climbed 6.32 per cent to Rs 2,123. TVS Motor Company on Wednesday said its net profit increased 15 per cent to Rs 387 crore for the fourth quarter ended March 2024, riding on robust sales. The company had reported a net profit of Rs 336 crore in the January-March period of the previous fiscal. Revenue from operations rose to Rs 10,042 crore in the period under review compared with Rs 8,031 crore in the fourth quarter of FY23. In the fourth quarter, the company said its overall <keyword id="19948209" type="General" weightage="20" keywordseo="two-wheeler" source="keywords">two-wheeler</keyword> and three-wheeler sales, including exports, grew by 22 per cent to 10.63 lakh units compared to 8.68 lakh units in the same period of the 2022-23 fiscal. For the year ended on March 31, 2024, the company posted a consolidated net profit of Rs 1,686 crore as against Rs 1,329 crore a year ago. Revenue from operations rose to Rs 39,145 crore in FY24 over Rs 31,974 crore in the 2022-23 fiscal. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/indegene-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109952516.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/indegene-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109952516.cms" target="_blank">Indegene IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank">Google Wallet launched in India – store your loyalty cards, boarding passes and more</a><a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank">Top-selling cars in India in April 2024 – Tata Punch continues to dominate</a>

TVS Motor shares climb over 6% after March quarter earnings

<keyword id="20021345" type="General" weightage="20" keywordseo="TVS-Motor-Company" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motor Company" meta.hostid="261" meta.entityid="TVS Motor Company">TVS Motor Company</keyword> on Wednesday said its consolidated net profit increased 15 per cent to Rs 387 crore for the fourth quarter ended March 2024, riding on robust sales. The company had reported a net profit of Rs 336 crore in the January-March period of the previous fiscal. Revenue from operations rose to Rs 10,042 crore in the period under review compared with Rs 8,031 crore in the fourth quarter of FY23. In the fourth quarter, the company said its overall two-wheeler and three-wheeler sales, including exports, grew by 22 per cent to 10.63 lakh units compared to 8.68 lakh units in the same period of the 2022-23 fiscal. For the year ended on March 31, 2024, the company posted a consolidated net profit of Rs 1,686 crore as against Rs 1,329 crore a year ago. Revenue from operations rose to Rs 39,145 crore in FY24 over Rs 31,974 crore in the 2022-23 fiscal. The company said it recorded its highest-ever revenue and profit in FY24. <keyword id="46156" type="General" weightage="20" keywordseo="TVS-Motor" source="Orion">TVS Motor</keyword> also witnessed record sales of over 40 lakh units in a financial year. During the year ended March 31, 2024, its overall two- and three-wheeler sales grew by 14 per cent to 41.91 lakh units as against 36.82 lakh units in the 2022-23 fiscal. Shares of the company on Wednesday ended 1.29 per cent higher at Rs 2,006.15 apiece on the BSE. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-has-silently-launched-the-pixel-8a-in-india-starting-at-52999/articleshow/109937286.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-has-silently-launched-the-pixel-8a-in-india-starting-at-52999/articleshow/109937286.cms" target="_blank">Google has quietly launched the Pixel 8a in India starting at ₹52,999</a><a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank">Google Wallet launched in India – store your loyalty cards, boarding passes and more</a><a href="https://www.businessinsider.in/stock-market/webstories/tbo-tek-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109946929.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/tbo-tek-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109946929.cms" target="_blank">TBO Tek IPO – Company details to risk factors, all you need to know</a>

TVS Motor Company net profit rises 15% to ₹387 crore in March quarter

Mining conglomerate <keyword id="19919721" type="General" weightage="20" keywordseo="Vedanta" source="keywords">Vedanta</keyword> Ltd on Tuesday reported 36.5 per cent rise in consolidated net profit at Rs 3,606 crore for June quarter FY25 due to improved margins and robust cost reduction across all operations. The company had posted a net profit of Rs 2,640 crore in the year-ago period. Income rose to Rs 36,698 crore over Rs 34,279 crore in the year-ago period, according to an exchange filing. Vedanta said in a statement that the proposed demerger of its businesses is on track and it has already filed the demerger scheme with NCLT after getting a nod from secured creditors. The company said that its board has approved a capex investment of USD 270 million for its oil and gas business. "The strategic priority for the Cairn Oil &amp; Gas business is to augment reserves and increase near term volume through infill wells and enhanced oil recovery. In order to deliver this, the Board has approved capex investment (net) of USD 270 million across fields in the Rajasthan block for drilling wells and construction of surface facility for ASP ( Alkaline Surfactant Polymer) injection," the company said in a separate filing. Vedanta Executive Director Arun Misra said that the company has delivered a strong start to the year, with exceptional EBITDA improvement of 47 per cent and PAT improvement by 54 per cent year-over-year on the back of improved margins, and robust cost reduction across all operations. "Our aluminium and zinc divisions continue to outperform industry benchmarks, consistently ranking in the top quartiles and deciles of the global cost curve. These achievements are a direct result of our strategic focus on cost, as reflected in a 20 per cent year-over-year reduction in overall cost," he said. The company's growth projects are well on track and it remains committed to commission the majority of these projects in FY25. "Moving ahead, our focus on operational efficiency, sustained expansion, and ESG excellence will guide our journey. With this dedication, we are confident in our ability to create substantial shareholder value in the year ahead," he added. Last month, the mining conglomerate raised Rs 8,500 crore (over USD 1 billion) through Qualified Institutions Placement (QIP) of 19.31 crore equity shares at an issue price of Rs 440 per share. Company's CFO Ajay Goel said, "The overwhelming response to the Vedanta's... QIP...underscores investors' huge confidence. The proceeds from the QIP will be further instrumental in deleveraging the balance sheet and reduction of finance costs. We have received all the requisite approvals and have filed the demerger scheme with the National Company Law Tribunal (NCLT) taking our demerger a step closer to reality." The company's gross debt stood at Rs 78,016 crore as on June 30, 2024. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources companies spanning across India, South Africa, Namibia, Liberia, the UAE, Korea, Taiwan and Japan with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power and glass substrate. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a> <a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms">Neeraj Chopra qualifies for finals with a first throw of 89.34m – top rivals to look out for</a>

Vedanta Q1 profit surges 37% to ₹3,606 crore on improved margins

<ul><li>In constant currency terms, <keyword id="13843427" type="General" weightage="20" keywordseo="ltimindtree" source="Orion">LTIMindtree</keyword> posted revenue growth of 8.2% YoY for the June quarter. </li><li>The order inflow continued to increase and reached $1.41 billion in this quarter. </li><li>“Our operational rigor helped us achieve an EBIT of 16.7% and PAT of 13.2%," said Debashis Chatterjee, CEO and MD. </li></ul> Technology consulting and digital solutions company LTIMindtree posted a 4.1% year-on-year rise in net profit to ₹1,152 crore for the first quarter ended June 30. Revenue rose 13.8% to ₹8,702 crore for the period. In constant currency terms, the company’s revenue rose 8.2% YoY for the June quarter. On a quarter-on-quarter basis, however, this revenue was almost flat at 0.1% growth. “Our key verticals BFSI (banking, financial services and insurance), Manufacturing &amp; Resources and Hi-Tech, Media, and Entertainment, which make up 75% of our revenues performed well,” said Debashis Chatterjee, chief executive officer and managing director. “Our strategic programs are bearing fruit and is evident in the upward movement across our client buckets. The order inflow continued to increase and reached $1.41 billion in this quarter,” he added. The company has 723 active clients as of June 30, 2023. During the quarter, $5 million+ clients increased by 18 on a YoY basis, while $10 million+ clients increased by 9 and $50 million+ clients increased by 3. “Our operational rigor helped us achieve an EBIT of 16.7% and PAT of 13.2%," Chatterjee added. EBIT is earnings before interest and taxes, while PAT refers to profit after tax. At the end of the quarter, the company had 82,738 professionals with the trailing 12 month attrition at 17.8%. Among the deals won during the quarter are a deal from one of the largest property &amp; casualty insurance companies in the United States, which has chosen LTIMindtree as a strategic partner for a multi-year application development and maintenance deal. Shares of the company were trading 2.5% lower at ₹5,006 in morning trade on the NSE. Meanwhile, the Nifty50 was up 0.45%.

LTIMindtree Q1 net profit rises 4.1% to ₹1,152 crore, revenue up 14% YoY

<ul><li><keyword id="10591" type="General" weightage="20" keywordseo="samsung" source="Orion">Samsung</keyword> today held its Unbox &amp; Discover event.</li><li>The brand launched a new line-up of Neo QLED TVs.</li><li>The Smart TVs start at a price of ₹1,41,990 and go all the way upto ₹15,74,000</li></ul>Taking forward the legacy of the Samsung Neo QLED smart TV line-up, the brand introduced 4K and 8K Neo QLED TVs in India. The premium smart TV range is available in sizes starting at 50-inches and going up to 98-inches. The brand has focused on better connectivity, advanced personalization, improved gaming experience, and sustainability. Price &amp; Availability The Neo QLED 8K TV comes in four variants with the available sizes 98-inch, 85-inch, 75-inch, and 65-inch. The QN700-C 65-inch variant is offered at a price of ₹3,14,990. The Neo QLED 4K TV has three variants- 85-inch, 75-inch, 65-inch, 55-inch, and 50-inch screen sizes. The QN85C (65-inch,55-inch) models will be available at a starting price of ₹1,41,990. Samsung also announced that consumers buying Neo QLED TVs until May 25, 2023, can get a free Samsung Soundbar HW-Q990 worth INR 99,990 with select Neo QLED 8K TVs and Samsung Soundbar HW-Q800 worth INR 44,990 with Neo QLED 4K TVs. Samsung Neo QLED TVs The Samsung Neo QLED TVs feature Samsung’s Quantum Matrix Technology that powers up to 33 million pixels and delivers a billion colors. The TVs feature Samsung’s Neural Quantum Processor, which supports the Quantum Mini LED-lit TV with 14-bit processing and AI upscaling. This enables Shape Adaptive Light Control and Real Depth Enhancer Pro for a three-dimensional experience. Both Neo QLED 8K &amp; 4K TVs are validated by Pantone, certifying accurate expression of 2,030 Pantone colors and 110 skin tone shades. The Neo QLED TVs come equipped with Q Symphony 3.0, allowing TV and soundbar speakers to operate simultaneously for a surround effect. Plus, the viewing experience is complemented by immersive sound with the world’s first wireless Dolby Atmos and Object Tracking Sound Pro with action-tracking sound from all corners of the TV. Adaptive Sound Pro optimizes sound considering the characteristics of both the room and the audio content. Besides the visual experience, the Neo QLED TV range also has some new features. Gaming Samsung’s Neo QLED 8K TVs come with the Motion Xcelerator Turbo Pro for high-speed gaming. There is also Game Motion Plus for eliminating motion blur and providing a 144Hz refresh rate. Then there is Virtual AimPoint and Super Ultrawide GameView. With Super Ultrawide GameView, the TV can deliver content in ratios of 16:9, 21:9, and 32:9. There is also a Game Bar. Finally, a Mini Map Zoom lets players see their game's mini-map at a glance on any display. Sustainability According to the manufacturer, the new Neo QLED TVs incorporate several components derived from repurposed secondary batteries, discarded fishing nets, and waste metals. The company also asserts that it has significantly reduced ink usage on its packaging, up to 90%, and that consumers can now reuse the packaging material as furniture in their homes. Moreover, the brand has introduced an AI Energy mode through its SmartThings app, which can reduce energy consumption by 20%. This is achieved by automatically adjusting the TV's brightness according to the ambient light, resulting in more efficient power utilization. Smart Connectivity The new lineup has a built-in IoT Hub with Calm Onboarding feature and IoT-enabled sensors to control lights or sound. The calm onboarding technology lets you connect Samsung or third-party devices smoothly to the TV. The Neo QLED TVs also feature Smart Hub, which provides a single hub for Entertainment, Gaming, and Ambient options. You can also access Samsung TV Plus, the company’s free ad-supported TV and video-on-demand service that offers 100 channels in India. The new Samsung Knox Vault hardware chip encrypts all information from connected devices and is certified by CC EAL 6+ certification. In addition to Samsung’s virtual assistant- Bixby, Neo QLED TVs also come with Alexa built-in. Finally, Multi-View lets users view content from four different sources simultaneously. A new SlimFit cam also allows users to connect the Neo QLED TV for video calls. See also- <a href="https://www.businessinsider.in/business/news/shopify-lays-off-20-of-its-workforce-sells-logistics-biz/articleshow/100003562.cms" data-type="tilCustomLink">Shopify lays off 20% of its workforce, sells logistics biz</a> <a href="https://www.businessinsider.in/business/auto/news/tvs-motors-q4-net-profit-jumps-49-on-year-to-410-crore/articleshow/99991586.cms" data-type="tilCustomLink">TVS Motor’s Q4 net profit jumps 49% on year to ₹410 crore</a> <a href="https://denmark.timesinternet.in/cms/businessinsider.in/science/research/news/ai-systems-signals-found-to-mirror-how-brain-interprets-speech/articleshow/99958399.cms" data-type="tilCustomLink">AI systems' signals found to mirror how brain interprets speech</a><a href="https://www.businessinsider.in/business/auto/news/tvs-motors-q4-net-profit-jumps-49-on-year-to-410-crore/articleshow/99991586.cms" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/business/news/shopify-lays-off-20-of-its-workforce-sells-logistics-biz/articleshow/100003562.cms" data-type="tilCustomLink"></a> <a class="Name" href="https://www.businessinsider.in/author_articles_all.cms?query=%22IANS%22&amp;author=IANS&amp;page=1"></a>

Samsung introduces new Neo QLED TVs in India with dedicated features for better connectivity, gaming, and sustainability

<keyword id="18635" type="General" weightage="80" keywordseo="amazon" source="Orion">Amazon</keyword> India and <keyword id="108831" type="DOMAIN" weightage="20" keywordseo="tvs-motor-company" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="tvs motor company" meta.entityname="TVS Motor Company Ltd." meta.entityid="12940" meta.seoname="tvs-motor-company-ltd">TVS Motor Company</keyword> on Wednesday announced a collaboration on electric two and three-wheeler deployment, helping to further drive electric mobility in India. As part of this collaboration, a fleet of electric two-wheelers and three-wheelers from <keyword id="46156" type="DOMAIN" weightage="20" keywordseo="tvs-motor" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="tvs motor" meta.entityname="TVS Motor Company Ltd." meta.entityid="12940" meta.seoname="tvs-motor-company-ltd">TVS Motor</keyword> <keyword id="15310100" type="TOPIC" weightage="60" keywordseo="Will" source="TOPIC" sourcekeytype="finance,investopedia" meta.keywordsubtype="null" meta.msid="92723889" meta.seopath="w/will" meta.entityname="Will" meta.hostid="153" meta.entityid="will">will</keyword> be deployed for Amazon's last-mile deliveries. The two companies will also pilot <keyword id="13129889" type="DOMAIN" weightage="20" keywordseo="tvs" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="tvs" meta.entityname="Chennai Business Consulting Services Ltd." meta.entityid="12015" meta.seoname="chennai-business-consulting-services-ltd">TVS</keyword> Motor's electric vehicle solutions through partner bases and delivery associates across the country. "This will support our supply chain in minimising the environmental impact of our operations and contribute to Amazon India's goal of inducting 10,000 EVs into our fleet by 2025," said Abhinav Singh, Director, Customer Fulfilment, Supply Chain and Global Specialty Fulfilment, Amazon India. In 2020, the e-commerce major said its fleet of delivery vehicles in the country will include 10,000 EVs by 2025. The induction of these EVs is in addition to Amazon's global commitment of 100,000 EVs by 2030. "With the great success of TVS '<keyword id="8648410" type="General" weightage="50" keywordseo="iqube-electric" source="Orion">iQube Electric</keyword>', we now intend to expand our electric offering across multiple segments and commercial mobility stands at the opportune inflexion point," said Manu Saxena, Senior Vice President, Future Mobility, TVS Motor Company. TVS Motor is ready with electric two-wheeler and three-wheeler product options for the business-to-business (B2B) segment, along with an ecosystem of connected service and alternate ownership. In addition, the two companies will work in tandem to examine EV use cases for various Amazon business groups for its network and logistical requirements. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-to-become-the-first-indian-port-operator-in-sri-lanka/articleshow/95394338.cms">Adani Group to become the first Indian port operator in Sri Lanka</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/meteor-350-vs-super-meteor-650/slidelist/95395383.cms">Royal Enfield Super Meteor 650 cruiser is a beefed-up in comparison to Meteor 350 —details here</a>

Amazon joins TVS Motor Company to scale EV mobility in India

Once the Rs 4,447 crore (about $568 million) acquisition of <keyword id="12724311" type="General" weightage="20" keywordseo="blinkit" source="Orion">Blinkit</keyword> is closed, <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword> will experiment with cross leveraging its customers base for Blinkit and vice versa, its Founder and CEO <keyword id="476451" type="General" weightage="20" keywordseo="deepinder-goyal" source="Orion">Deepinder Goyal</keyword> has stressed. Goyal said that in India, super brands will work better than super apps. "Which means that the Blinkit app will continue to operate independently. We will also start working on integrating the delivery fleet back-ends which should drive higher delivery efficiency over time," he said in the letter to shareholders. Tech integrations between the two companies will accelerate the pace of progress at both ends, he added. According to the company, the losses for Blinkit are coming down every month -- from Rs 2,040 million (about $26 million) in January 2022 to Rs 929 million ($12 million) in July. "The losses have come down owing to a) operating leverage and b) improved execution. As the GOV (gross order value) per day per store goes up, losses come down given the high operating leverage in the business," said Zomato CFO Akshant Goyal. The company said that Blinkit has also shut down a number of unviable dark stores, which were not scaling and the team will continue to evaluate non-performing stores. In just six months, the Blinkit business has scaled to 20 per cent of Zomato's food delivery GOV while being present in less than 15 cities. According to Akshant, Zomato took about 45 months since the launch of food delivery to get to the current monthly GOV scale of Blinkit. Deepinder said that there is a misconception that Zomato would have gotten to the same (or perhaps bigger) scale and size had we launched quick commerce organically seven months ago. Akshant added that in Gurugram, Blinkit GOV is 70 per cent of Zomato food delivery GOV (for June). "Quick commerce cuts across a wide range of essential spends including grocery, fruits and vegetables, beauty and personal care, OTC medicines, stationery items, among others. Therefore, we expect the overall customer base, average order value as well as monthly order frequency to be higher than food delivery," he mentioned. With continued solid execution and synergy realisation with Zomato, post the transaction, the Blinkit journey to profitability "should only accelerate", the company noted. Zomato reported Rs 185.7 crore in consolidated loss for the quarter ending June 30, compared to a loss of Rs 359.7 crore in the previous quarter. The consolidated revenue saw 67 per cent increase at Rs 1,413.9 crore from Rs 844.4 crore (same quarter last year), and 16.68 per cent up from Rs 1,211.8 crore in the last reported quarter. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/markets-on-a-wait-and-watch-mode-as-they-await-cues-from-rbi/articleshow/93290015.cms">Markets on a wait and watch mode as they await cues from RBI</a> <a href="https://www.businessinsider.in/business/auto/news/as-new-cars-get-pricier-pre-owned-bmws-audis-and-porsches-get-more-attractive/articleshow/93275786.cms">As new cars get pricier, pre-owned BMWs, Audis and Porsches get more attractive</a> <a href="https://www.businessinsider.in/business/startups/news/physicswallah-purplle-leadsquared-and-open-were-the-only-for-unicorn-of-last-quarter-in-india/articleshow/93271392.cms">In the funding winter, only four companies turn unicorns in the June quarter</a>

Zomato, Blinkit will cross-leverage each other's customer base soon, says Deepinder Goyal

<ul><li>Bajaj Auto announced its earnings for the first quarter of FY20. </li><li>Bajaj Auto’s profits stood at ₹1126 crores as compared to ₹1115 crores in the same quarter last year. </li><li>Its share price jumped by 4% after it announced earnings.</li></ul>Bajaj Auto’s share price jumped by over 4% as the country’s leading two and three-wheeler maker gave up margin for more market share. The company led by Chief Executive Officer Rajiv Bajaj in the domestic motorcycle segment, has a market share of 18.3% against 16.3% in Q1FY19. Meanwhile, in the sports segment, the company continues to enjoy a market share of nearly half the segment. This came at a cost. Overall margins shrank to 16.1% from 18.3% because automobile demand has been on a downtrend last few months. At a time when the sales for the entire two-wheeler industry fell 9%, Bajaj Auto clocked a 1.6% growth in sales between April and June 2019. Bajaj Auto’s profits stood at ₹1126 crores, just a tad higher than the figure the same time last year. It’s consolidated profit after tax stood at ₹1012 crores, down 2.8% from a year earlier. Its total revenue from operations grew 3.8% to ₹ 7,756 crores. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
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You Searched For "TVS Motor q1 result" and got 9 results

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Zomato, Blinkit will cross-leverage each other's customer base soon, says Deepinder Goyal

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