Discounts take a toll on e-commerce firms: Amazon, Flipkart, PayTm continue to bleed, losses up 6% in FY17
Posted on 30th July 2018 |
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| While anecdotal and empirical evidence both confirm online shopping is becoming more popular, e-commerce businesses continue to bleed because consumers need to be pampered with discounts, report Anushree Bhattacharyya in New Delhi. The many rounds of sales that e-retailers launch during the year are a sign it is not easy to convince consumers to buy. So while revenues are going up, e-retailers are reining in spends on advertising, expenses on employees and other costs so as to ensure not too much cash is burned. For a clutch of 12 companies—across verticals—losses went up by about 6% in 2016-17 even though revenues increased. Industry experts say the losses could be as high for 2017-18 since discounts were as attractive. While the bigger players in each of the segments will grow, smaller businesses may fall by the wayside. There has been some consolidation but more is on the way says Sreedhar Prasad, partner, KPMG. Indeed, companies are chalking up new strategies and schemes to stay ahead of the competition. Meanwhile, investments in e-commerce and start-ups fell 35.5% to $3.59 billion between January-June; Fintech attracted 50% less at $908 million while e-commerce investments reduced by as much as 624% to just $627million. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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