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<keyword id="19898109" type="General" weightage="100" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="261" meta.entityid="Paytm">Paytm</keyword>'s parent company, <keyword id="20253123" type="General" weightage="20" keywordseo="One97-Communications" source="keywords" meta.keywordsubtype="org" meta.entityname="One97 Communications" meta.hostid="261" meta.entityid="One97 Communications">One97 Communications</keyword>, declared its Q2FY25 results today, announcing a one-time, exceptional profit of Rs 1,345 crore during the quarter, thanks to the sale of its entertainment ticketing business. The company's PAT (profit after tax) stood at Rs 930 crore. Notably, without this windfall gain, Paytm's finances would still be in red, with the company racking up losses worth Rs 415 crore. Paytm was in red in the year-ago period as well, incurring losses worth Rs 290.5 crore. This windfall profit also improved Paytm's EBITDA by Rs 388 crore on a QoQ basis. The company's revenue also saw a slight uptick of 10.5% quarterly to Rs 1,659 crore, as opposed to Rs 1,501 crore in the previous quarter. But on a year-on-year basis, Paytm's revenue dipped significantly by 34%. The company also announced that it has entered into a DLG (<keyword id="23641220" type="General" weightage="20" keywordseo="Default-Loss-Guarantee" source="keywords">default loss guarantee</keyword>) model for its merchant loans of about Rs 225 crore with SMFG India Credit. Under this arrangement, Paytm will be first in line to take a hit in case of a loss that emerges from borrowers defaulting or skipping their payments. "Following the regulatory framework and the emerging market practice, we see increased willingness from lenders to partner and allocate more capital in the default loss. The DLG model will help to increase disbursements with the existing partners and expand partnerships with new lenders for the loan distribution,” said the company in its earnings release today. The company's revenue from its payment business also inched up 9% on a quarterly basis, along with its revenue from <keyword id="19976433" type="General" weightage="20" keywordseo="financial-services" source="keywords">financial services</keyword>, which also grew by 34% QoQ. At present, Paytm's total merchant subscriptions stand at 1.12 crore, with the company garnering 3 lakh new merchants during the quarter. During the previous quarter, Paytm's <keyword id="20253122" type="General" weightage="20" keywordseo="gross-merchandise-value" source="keywords">gross merchandise value</keyword> (GMV) also inched up by 5% on a sequential basis, which experts anticipate will continue in the coming quarters, just as India braces for the festive season. Per its release, Paytm aims to achieve <keyword id="23641219" type="General" weightage="20" keywordseo="EBITDA-profitability" source="keywords">EBITDA profitability</keyword> (before ESOPs) by the fourth quarter of this financial year. However, investors remained unimpressed with Paytm's performance, with its share slipping by around 3.96% during the day to trade at Rs 697.20. The stock has a YTD (yield-to-date) of 7.91% during the year.

Paytm declares Q2 results, earns Rs 930 crore as windfall gains by way of sale of ticketing business to Zomato

Dear reader, Yet another week comes to a close and India's financial landscape saw a slight dip after reaching for the skies last week. Yet, speculations around <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> possibly reaching the coveted 100,000 mark in early 2025 are on the rise. Meanwhile, excitement is building for Coldplay’s upcoming concert in January next year. However, there is some bad news for those who have purchased or sold tickets via unauthorised means. BookMyShow has lodged an FIR to investigate the illegal sale and purchase of tickets. On a more somber note, the tragic passing of a <keyword id="19955371" type="General" weightage="20" keywordseo="Bajaj-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Finance" meta.hostid="261" meta.entityid="Bajaj Finance">Bajaj Finance</keyword> employee made headlines this week and reignited discussions around the pressing issues of <keyword id="22447710" type="General" weightage="20" keywordseo="workplace-stress" source="keywords">workplace stress</keyword> and mental health. Coming to what’s happening in the corporate world, <keyword id="19904608" type="General" weightage="100" keywordseo="Amazon" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon" meta.hostid="261" meta.entityid="Amazon">Amazon</keyword> is considering a major overhaul of its management structure that could see thousands of <keyword id="21263592" type="General" weightage="20" keywordseo="managerial-roles" source="keywords">managerial roles</keyword> eliminated by next year, aiming for increased efficiency and significant cost savings. Additionally, popular YouTuber Ranveer Allahbadia recently faced a hacking incident, raising awareness about the importance of online account security and the necessary steps for recovery. Join us as we explore these compelling stories and more, helping you stay informed and engaged in this ever-evolving landscape. <h2>Top stories of the week: </h2><h2>Will Sensex touch the coveted 1,00,000 mark early next year? Experts weigh in </h2> The Indian stock market experienced a significant growth, with the BSE Sensexsurpassing 85,000 points last week. However on Thursday, October 3, the Indian stock market faced a substantial decline. Bothbenchmark indices, Sensex and Nifty 50, ended the trading day down by more than 2%. Meanwhile, analysts are speculating that the index could reach the 100,000 mark by early 2025, bolstered by a ₹57,359 crore inflow from foreign investors in September—the highest in nine months. <a href="https://www.businessinsider.in/stock-market/article/will-sensex-touch-the-coveted-100000-mark-early-next-year-experts-weigh-in/articleshow/113797957.cms" data-type="tilCustomLink" target="_blank">Read more </a> <h2>Coldplay India 2025 concert: BookMyShow might cancel tickets sold through unauthorised channels, files FIR</h2> BookMyShow took legal action against unknown scalpers involved in the reselling of tickets for Coldplay's "Music Of The Spheres World Tour " in India. The online ticket platform filed an FIR with the <keyword id="19906039" type="General" weightage="20" keywordseo="Mumbai-Police" source="keywords" meta.keywordsubtype="org" meta.entityname="Mumbai Police" meta.hostid="261" meta.entityid="Mumbai Police">Mumbai Police</keyword> on October 2, accusing scalpers of black market activity surrounding tickets for the band's highly anticipated shows in January 2025 at DY Patil Stadium in Navi Mumbai. BookMyShow might even consider cancelling the tickets purchased through unauthorised sources. <a href="https://www.businessinsider.in/business/news/coldplay-india-2025-concert-bookmyshow-might-cancel-tickets-sold-through-unauthorised-channels-files-fir/articleshow/113925164.cms" data-type="tilCustomLink" target="_blank">Read more </a> <h2>‘Being pressurised to meet targets at any cost, I am leaving’: Bajaj Finance employee dies by suicide, leaves note blaming work stress </h2> A couple of days back, EY employee Anna Sebastian Perayil’s death had left the entire nation shocked. This week, yet another tragic incident has unfolded in Jhansi. A 42-year-old area manager, employed by Bajaj Finance, was found dead in his home on Sunday morning. According to a PTI report, the employee, named Tarun Saxena, ended his life by hanging, leaving behind a suicide note in which he alleged severe work pressure and mental harassment by his superiors. <a href="https://www.businessinsider.in/business/news/being-pressurised-to-meet-targets-at-any-cost-i-am-leaving-bajaj-finance-employee-dies-by-suicide-leaves-note-blaming-work-stress/articleshow/113843117.cms" data-type="tilCustomLink" target="_blank">Read more </a> <h2>Amazon could cut 14,000 managers soon and save $3 billion a year, according to Morgan Stanley</h2> Last month, CEO Andy Jassy announced plans to boost the ratio of individual contributors to managers at Amazon by at least 15% by the end of the first quarter of 2025. By reducing the number of managers, Jassy aims to streamline operations, eliminating unnecessary layers of management and enabling the company to operate more efficiently without bureaucratic obstacles. This initiative could potentially result in the loss of around 13,834 managerial positions by early next year, which Morgan Stanley estimates could lead to cost savings of between $2.1 billion and $3.6 billion, according to a note released on Thursday. <a href="https://www.businessinsider.in/tech/news/amazon-could-cut-14000-managers-soon-and-save-3-billion-a-year-according-to-morgan-stanley/articleshow/113918663.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Ranveer Allahbadia YouTube channel hack – What steps should you take to protect and recover your account? </h2> Ranveer Allahbadia, widely known as BeerBiceps, recently faced a setback when his YouTube channels were hacked, leading to the deletion of all his videos and the renaming of his channels. However, YouTube has since removed the hacked accounts, and they were restored today, along with all the original content. While Allahbadia, as a prominent YouTuber, was able to regain access to his accounts with relative ease, not everyone has the same resources or connections. This situation highlights the importance of knowing how to safeguard your account and the steps to take if it becomes compromised. <a href="https://www.businessinsider.in/tech/news/ranveer-allahbadia-youtube-channel-hack-what-steps-should-you-take-to-protect-and-recover-your-account/articleshow/113738508.cms" data-type="tilCustomLink" target="_blank">Read more </a><h2> Top web stories of the week</h2> <a href="https://www.businessinsider.in/stock-market/webstories/indias-biggest-ipos-by-issue-size/slidelist/113916108.cms" data-type="tilCustomLink" target="_blank">India's biggest IPOs by issue size</a> <a href="https://www.businessinsider.in/thelife/webstories/9-effective-brain-exercises-to-improve-memory-and-focus/slidelist/113622167.cms" data-type="tilCustomLink" target="_blank">9 brain exercises to improve memory and focus</a> <a href="https://www.businessinsider.in/travel/india/webstories/tired-of-jaipur-check-out-these-7-alternative-places-in-rajasthan/slidelist/113819793.cms" data-type="tilCustomLink" target="_blank">Tired of Jaipur? Check out these 7 alternative places in Rajasthan</a>

Weekend wrap: Experts talk about Sensex reaching 100,000 mark, Amazon plans major managerial cuts

<ul><li>The Indian smartphone market recorded a 5.6% growth in Q3 2024, with 46 million devices shipped.</li><li>Vivo emerged as the market leader, with a 15.8% market share.</li><li>Apple recorded its highest quarterly shipments in India in Q3 2024.</li></ul> <keyword id="10541246" type="General" weightage="100" keywordseo="indian-smartphone-shipments" source="Orion">Indian smartphone shipments</keyword> recorded a growth of 5.6% in Q3 2024, marking the fifth consecutive quarter to record growth. In Q3 2024, 46 million smartphones were shipped in India. According to a report by International Data Corporation (IDC), Cupertino tech giant Apple posted its highest quarterly shipments in India at 4 million units, led by iPhone 15 and iPhone 13. “Growth in the biggest quarter of the year was fueled by attractive discounts, multiple financing options, extended device warranty and cashback/bank offers across both online/offline channels. The launch of several new 5G smartphones also drove demand,” said Upasana Joshi, Senior Research Manager, Devices Research, IDC Asia Pacific. <h2>Smartphone Market Share Q3 2024</h2><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2024 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2023 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vivo </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.8% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.9% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oppo </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.9% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.9% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Samsung </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.3% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.2% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Realme </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.5% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.1% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Xiaomi </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.4% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.7% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apple </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.6% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.7% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Poco </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.8% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.7% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motorola </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.7% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.4% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">iQOO </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.2% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.2% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">OnePlus </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.6% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.2% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Others </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.2% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.0% </td></tr></tbody></table> Source: IDC <h2>Vivo leads the market</h2>Vivo has emerged as the market leader in Q3 2024, with a 15.8% market share, up from a 13.9% market share in Q3 2023. This marks the third consecutive quarter where the smartphone maker has led the Indian smartphone market. Vivo’s shipments have increased by 20% year-on-year. Oppo is second, with a 13.9% market share in Q3 2024, up from a 9.9% market share in Q3 2023. The company’s shipments have increased by 47.6% year-on-year. Samsung, which led the Indian smartphone market in Q3 2023 with a market share of 16.2% has been pushed down to the third spot with a 12.3% market share. The company’s shipments have declined by 19.7% year-on-year. Other notable changes include the increase in Apple’s market share from 5.7% to 8.2%, a decline in OnePlus’ market share from 6.2% to 3.6% and a 149% year-on-year increase in shipments recorded by Motorola. <h2>5G shipments on the rise</h2>The share of 5G shipments increased to 83% in Q3 2024, up from 57% in Q3 2023. Of the 46 million smartphones shipped, 38 million were 5G smartphones. This has been fueled by the decline in the average selling price (ASP) of 5G smartphones. The ASP has by 20% to $292 (approx. ₹24,650). “Cyclical dip in demand after the festive period and high shipments in 3Q24 will result in higher stock levels across channels in 4Q24. Thus, India's smartphone market is expected to exit 2024 with a low single-digit annual growth,” said Navkendar Singh, AVP – Devices Research, IDC. SEE ALSO: <a href="https://www.businessinsider.in/entertainment/news/jiostar-announces-plans-starting-at-15-heres-everything-you-need-to-know/articleshow/115326701.cms">JioStar announces plans starting at ₹15 – here’s everything you need to know</a> <a href="https://www.businessinsider.in/tech/news/asus-rog-zephyrus-g16-review/articleshow/115054981.cms">Asus ROG Zephyrus G16 gaming laptop review – With a big AI boost</a> <a href="https://www.businessinsider.in/business/auto/news/skoda-kylaq-suv-launched-in-india-starting-at-7-89-lakh/articleshow/115013668.cms">Skoda Kylaq SUV launched in India starting at ₹7.89 lakh</a>

Indian smartphone shipments grow 5.6% in Q3 2024, Vivo leads the market

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s <keyword id="20211456" type="General" weightage="100" keywordseo="smartphone-shipments" source="keywords">smartphone shipments</keyword> fell 2% year-on-year in the June quarter, hurt by the <keyword id="19933152" type="General" weightage="20" keywordseo="heatwave" source="keywords">heatwave</keyword> and slower demand, as per a report by global research firm <keyword id="19990817" type="General" weightage="20" keywordseo="Counterpoint" source="keywords" meta.keywordsubtype="org" meta.entityname="Counterpoint" meta.hostid="261" meta.entityid="Counterpoint">Counterpoint</keyword>, which also showed that <keyword id="19901379" type="General" weightage="20" keywordseo="Xiaomi" source="keywords" meta.keywordsubtype="org" meta.entityname="Xiaomi" meta.hostid="261" meta.entityid="Xiaomi">Xiaomi</keyword> had reclaimed the top spot in volume share, and <keyword id="19897758" type="General" weightage="20" keywordseo="Samsung" source="keywords" meta.keywordsubtype="org" meta.entityname="Samsung" meta.hostid="261" meta.entityid="Samsung">Samsung</keyword> led in value terms. Notably, <keyword id="20704187" type="General" weightage="20" keywordseo="5G-smartphones" source="keywords">5G smartphones</keyword> captured their highest-ever share of 77% in the overall shipments, according to Counterpoint's Monthly India Smartphone Tracker. Another key takeaway was that India's smartphone market hit its highest ever Q2 value, driven by the ongoing trend of premiumisation."India's smartphone shipments fell 2% YoY in <keyword id="22245015" type="General" weightage="20" keywordseo="Q2-2024" source="keywords">Q2 2024</keyword> (April-June)," it said. The decline was influenced by a heatwave, a seasonal slump, and slower demand from Q1 2024."In response, <keyword id="20018736" type="General" weightage="20" keywordseo="OEMs" source="keywords">OEMs</keyword> (Original Equipment Manufacturers) hosted sales events in Q2 to clear inventory, leading to a reduced sell-in and a period of degrowth," it said. On the market's volume dynamics, Senior Research Analyst Shilpi Jain explained that heatwave conditions in various regions led to lower footfalls in offline channels and delayed smartphone purchases as consumers prioritised appliances like air-conditioners and refrigerators. This reduced demand led to an inventory build-up. However, summer sales at online channels, good harvest and aggressive promotions towards the end of the quarter provided relief to OEMs, helping close the quarter on a better note than at the beginning. "During the quarter, Xiaomi reclaimed the top spot with a 23% YoY growth in its shipments, driven by a streamlined and focused portfolio that spans from the entry-level to affordable premium segments," Counterpoint said. Xiaomi reclaimed the top spot with an 18.9% shipment share, and Vivo followed closely with 18.8% share. On value dynamics, Research Analyst Shubham Singh said "In Q2 2024, India's smartphone market achieved its highest ever Q2 value, driven by the ongoing trend of premiumisation." Consumers continued to upgrade to higher-value smartphones, supported by better trade-in values and easy financing schemes. This resulted in a 24% YoY growth in the ultra-premium (over Rs 45,000) segment. Samsung led the market in terms of value with a 25% share, followed by Vivo and <keyword id="19894961" type="General" weightage="20" keywordseo="Apple" source="keywords" meta.keywordsubtype="org" meta.entityname="Apple" meta.hostid="261" meta.entityid="Apple">Apple</keyword>. "Meanwhile, Apple ranked third in value terms. But it is expected to rebound in the next quarter, driven by the recent price cuts across the entire range of iPhones," Singh said.

India's smartphone shipments dip 2% in Q2 2024 as heatwave, slower demand takes toll

New Delhi, <keyword id="173881" type="General" weightage="20" keywordseo="Bajaj-Hindusthan-Sugar" source="Orion">Bajaj Hindusthan Sugar</keyword> Ltd on Thursday reported a consolidated net loss of Rs 122.87 crore in the second quarter of this fiscal. Its net loss stood at Rs 162.37 crore in the year-ago period. Total income declined to Rs 1,163.30 crore in the July-September period of 2023-24 fiscal, from Rs 1,329.99 crore in the corresponding period of the previous year, according to a regulatory filing. Bajaj Hindusthan Sugar Ltd is India's leading sugar and ethanol manufacturing company. Part of the Bajaj Group (Kushagra), it is headquartered at Mumbai. The company has 14 sugar plants, all located in Uttar Pradesh.

Bajaj Hindusthan Sugar posts Rs 122.87 cr net loss in Sep 2023 quarter

<keyword id="19990482" type="General" weightage="20" keywordseo="power-finance-corporation" source="keywords">Power Finance Corporation</keyword> (<keyword id="20058831" type="General" weightage="20" keywordseo="PFC" source="keywords">PFC</keyword>) on Wednesday posted over 23 per cent rise in consolidated net profit at Rs 7,556.43 crore for March quarter FY24 on account of growth in loan portfolio. It had clocked Rs 6,128.63 crore profit from "continuing and discontinued operations" during the fourth quarter of last fiscal, the company said in an exchange filing. Total income rose to Rs 24,176.34 crore from Rs 20,074.11 crore in January-March FY23. Expenses were at Rs 14,579.16 crore as against Rs 12,312.29 crore a year ago. The company logged the highest annual profit of Rs 26,461 crore in FY24, up 25 per cent from Rs 21,179 crore in FY23. Its consolidated loan asset book increased to Rs 9,90,824 crore as on March 31, 2024, up from Rs 8,57,500 crore a year ago. PFC's consolidated net worth (including non-controlling interest) increased 20 per cent from Rs 1,11,981 crore as on March 31, 2023 to Rs 1,34,289 crore as on March 31 this year. The company's total balance sheet size crossed Rs 10 lakh crore in FY24. Consolidated gross NPA was at 3.02 per cent in FY24 as against 3.66 per cent in FY23. The board also approved the final dividend of Rs 2.50 per share. With this, the total dividend for FY24 would be Rs 13.50 per share. <keyword id="21668447" type="General" weightage="20" keywordseo="cmd-parminder-chopra" source="keywords">CMD Parminder Chopra</keyword> said,"This strong performance is backed by a 14 per cent growth in our loan portfolio while retaining a strong asset quality. Our Net NPA levels reduced from 1.07 per cent in previous financial year to 0.85 per cent currently. Maximizing shareholder value remains a priority." PFC's renewable loan portfolio grew 25 per cent year-on-year to over Rs 60,000 crore, she said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank">Virat Kohli-backed Go Digit IPO subscription opens today — all you need to know</a><a href="https://www.businessinsider.in/business/auto/news/tvs-iqube-gets-a-new-variant-priced-under-1-lakh-st-variant-gets-a-bigger-battery/articleshow/110121391.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tvs-iqube-gets-a-new-variant-priced-under-1-lakh-st-variant-gets-a-bigger-battery/articleshow/110121391.cms" target="_blank">TVS iQube gets a new variant priced under ₹1 lakh, ST variant gets a bigger battery</a><a href="https://www.businessinsider.in/tech/mobile/news/qualcomm-snapdragon-8s-gen-3-chipset-to-debut-in-india-with-the-poco-f6/articleshow/110115537.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/qualcomm-snapdragon-8s-gen-3-chipset-to-debut-in-india-with-the-poco-f6/articleshow/110115537.cms" target="_blank">Qualcomm Snapdragon 8s Gen 3 chipset to debut in India with the Poco F6</a>

PFC Q4 profit grows 23% to ₹7,556 crore

<keyword id="19993913" type="General" weightage="20" keywordseo="Mahindra-Mahindra" source="keywords" meta.keywordsubtype="org" meta.entityname="Mahindra &amp; Mahindra" meta.hostid="261" meta.entityid="Mahindra &amp; Mahindra">Mahindra &amp; Mahindra</keyword> on Thursday reported a 4 per cent increase in consolidated profit after tax (PAT) to Rs 2,754 crore for the March quarter, driven by strong performance of its automotive and farm sector segments. The company had posted a consolidated PAT of Rs 2,637 crore in the January-March quarter of the 2022-23 fiscal, <keyword id="19981454" type="General" weightage="20" keywordseo="mm" source="keywords">M&amp;M</keyword> said in a regulatory filing. <keyword id="19945274" type="General" weightage="20" keywordseo="revenue" source="keywords">Revenue</keyword> increased to Rs 35,452 crore in the fourth quarter, registering a growth of 9 per cent, as compared to Rs 32,456 crore in the corresponding period a year ago, it added. For the year full year ended March 31, the company posted a consolidated <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> of Rs 11,269 crore as against Rs 9,025 crore in FY23, an increase of 25 per cent. Revenue rose 15 per cent to Rs 1,39,078 crore in the last fiscal as compared with Rs 1,21,362 crore in FY23. "It has been an excellent year with most of our businesses delivering a high level of performance. Auto continued its high growth trajectory, Farm gained share in a tough market and <keyword id="20085620" type="General" weightage="20" keywordseo="Mahindra-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Mahindra Finance" meta.hostid="261" meta.entityid="Mahindra Finance">Mahindra Finance</keyword> delivered on asset quality," M&amp;M Managing Director &amp; CEO Anish Shah said. TechM was a weak spot, the turnaround has commenced with the new organisation in place, he added. The company said its board has approved a dividend of Rs 21.10 per share of the face value of Rs 5 each. Shares of the company were trading flat at Rs 2,302.80 apiece on the BSE.

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Mahindra Q4 net profit rises 4% to Rs 2,754 crore; Revenue at Rs 35,452 crore

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