Zomato has surrendered its payment aggregator licence and its application for the mobile wallet licence, the food delivery major said in a stock exchange filing on Monday.The Gurgaon-headquartered startup has written down Rs 39 crore, which it had invested into its wholly owned subsidiary Zomato Payments that held the PA licence, and accounted it as impairment losses. Zomato clarified that the other operations of its payments subsidiary will continue.This decision comes within just a couple of...
The full-service digital agency group Granite has acquired the digital design agency WONDR for an undisclosed sum. Founded in 2014 by Dermot O’Shea, WONDR is an award-winning digital design agency with over 30 clients in Ireland, the UK and the Middle East. Clients include the likes of ESB, An Post, DCCI, 11Onze, Agthia, Perrett Laver […]
The Raipur division of the Enforcement Directorate (ED) recently
Food and grocery delivery company Zomato on Monday reported a fourth straight quarter of net profit compared with a loss a year earlier, but its shares fell as the performance missed market expectations.For the quarter ended March 31, the company posted a net profit of Rs 175 crore, compared with a loss of Rs 188 crore in the year-earlier period. Brokerages had expected the company’s net profit to come in the range of Rs 188-218 crore.Operating revenue grew 73% to Rs 3,526 crore, mainly driven...
Homegrown navigation firm CE Info systems, which owns the digital map services platform MapmyIndia, has reported a 35% surge in its consolidated net profit to Rs 38.2 crore in the March quarter of FY24, up from Rs 28.3 crore a year ago.The company’s consolidated operating revenue also witnessed a 47% increase to Rs 106.9 crore during the same period. On an annual basis, the operating revenue increased by 35% to Rs 379.4 crore in FY24 from Rs 281.5 crore in FY23.The board has approved a dividend...
Ahmedabad-based Infibeam Avenues, which runs CCAvenue payment gateway and BuildaBazaar enterprise software solution, has reported a 61% jump in its consolidated operational revenue for 2023-24 to Rs 3,171 crore from Rs 1,962 crore in FY23. Its profit after tax jumped 55% to Rs 147 crore from Rs 94.6 crore.For the entire business that counts the domestic payment business, international payments and businesses from its subsidiary entities, the overall payment value settled by the platform stood at...
Office sharing startup Awfis Space Solutions on Thursday announced a price band of Rs 364 to Rs 383 per share for its initial public offering (IPO), which will be launched on May 22. The total size of the offering will be Rs 576 to Rs 599 crore.At the upper end of the price band, this values the company at Rs 2,659 crore (or around $318 million at current exchange rates). Awfis last raised funds in 2022 at a valuation of $110 million.Bids can be made for a maximum of 39 equity shares and in...
The overall remuneration of Tata Consultancy Services (TCS) CEO and MD K Krithivasan in FY24 was Rs 25.2 crore, slightly less than former CEO Rajesh Gopinathan’s at Rs 29.16 crore in FY23.However, it is to be stated that Krithivasan’s remuneration “includes compensation for the full year, i.e. as Global Head of Banking, Financial Services and Insurance (BFSI) for April 1, 2023 to May 31, 2023 and as CEO and MD from June 1, 2023 to March 31, 2024”, reads the annual report of TCS that the company...
Info Edge India on Thursday reported a Rs 60.4 crore profit attributable to equity holders on a consolidated basis for the fourth quarter, compared with a loss of Rs 272.8 crore a year earlier.Consolidated revenue from operations rose 8.7% to Rs 657.4 crore for the quarter ended March 31 from Rs 604.8 crore in the year-earlier period.“Our cash from operations grew by 13.2% year-over-year in Q4FY24, reaching a cash balance of Rs 4,191 crore as of March 31, 2024,” said Chintan Thakkar, chief...
A Moneycontrol poll of eight brokerages pegged the net profit at Rs 891 crore.
In a letter, state Agriculture Minister Kirodi Lal Meena has alleged that ‘illegal means have been used to make the project happen’.
Logistics player Delhivery has narrowed its losses to Rs 69 crore in the fourth quarter ended March 2024. The company reported a loss of Rs 159 crore in the year-ago quarter.Revenue from operations increased 12% year-on-year (YoY) to Rs 2,076 crore in the January-March 2024 period, compared with Rs 1,860 crore in the corresponding period of the previous year.EBITDA for the fourth quarter rose to Rs 46 crore versus just Rs 13 crore in the same quarter of last year.The company registered 13%...