Omnichannel eyewear retailer Lenskart saw its consolidated operating revenue more than double to Rs 3,788 crore in FY23 from Rs 1,502 crore a year earlier. The Gurugram-based company reduced its losses from Rs 102 crore in FY22 to Rs 64 crore in FY23. Total expenses also increased in line with the growing scale of the company, coming in at Rs 4,025 crore in FY23 compared to Rs 1,726 crore in the year-ago period. Notwithstanding the loss on a net basis, Lenskart reported earnings before interest,...
Walmart-owned PhonePe has invested over Rs 800 crore in its subsidiaries during the last year to grow businesses ranging from insurance broking to wealth management and hyperlocal ecommerce, regulatory filings show. More than half of this, or Rs 426 crore, went to PhonePe Insurance Broking Services — a clear indication of the payment firm’s intention to build a large retail cover distribution business.PhonePe has infused more than Rs 1,000 crore as equity investment in its insurance unit since...
New York State Comptroller Thomas P. DiNapoli has raised concerns over the sluggish pace of renewable energy projects in the state.
Tech Mahindra, country's fifth largest IT services firm, reported a decline in net profit of 40.9% year-on-year (YoY)to `661 crore primarily driven by slowdown in its telecom, communications, media and entertainment business, which is its largest vertical with 36.5% market share.The profit stood at Rs 1,118 crore in last year's March quarter. Sequentially, profit grew 29.6% from Rs 510 crore in the December quarter because of a one-off gain. The Pune-headquartered firm’s consolidated revenue...
Foxconn advanced its environmental sustainability goal, setting a target for its worldwide operations to run on 100 per cent renewable energy sources by 2040.
On Earth Day, Honolulu officials rode the city’s driverless, all-electric Skyline trains to not only tout the benefits of mass transit but laud current and future sustainable projects along the West Oahu line.
Rising demand for electricity has been met by more solar and wind generation, which is keeping a lid on prices and carbon emissions, the market operator says. Renewable energy generation drove down wholesale prices in the first three months of 2024 despite higher temperatures pushing up electricity demand, according to the Australian Energy Market Operator’s […]
Apple is making significant strides in expanding its clean energy and water conservation efforts worldwide. As part of its ambitious Apple 2030 project, the company has set a bold target to achieve carbon neutrality across its entire value chain by the end of this decade. This comprehensive plan encompasses a wide range of initiatives, from […]
BluSmart, a ride-hailing startup focusing on electric vehicles, posted more than Rs 390 crore in revenue in fiscal 2024, compared with about Rs 160 crore in FY23, cofounder Punit Goyal told ET.The firm has also crossed Rs 500 crore in annualised revenue run rate (ARR), he added. BluSmart competes with Uber and Ola, as well as new entrants like Rapido and Namma Yatri in the cab-hailing space.BluSmart is much smaller compared with Ola and Uber and operates only in two cities: Bengaluru and the...
(The Center Square) – Whitman County residents are up in the air over a proposed wind farm that would cost approximately $300 million to build. The Whitman County Board of Commissioners held meetings on Monday to discuss the project and hear community members’ pleas to protect their landmark. County Planner Alan Thomson said an extensive process would ensue once applications are filed. The proposed Harvest Hills Wind Project could provide power to 90,000 homes for...
Scientists say we have reached an ‘irreversible tipping point’ that will see fossil fuels phased out
BROOKINGS, Ore. —The Brookings City Council discussed the opposition to the Bureau of Oregon Energy Management’s Offshore Wind Energy Project proposed for the Oregon coast Monday. BOEM is looking to add offshore wind farms in areas that cover over 200,000 acres ranging around 18 to 32 miles off the coast of Curry and Coos Counties. […]