Revenue Collection

Central govt earns Rs 10.25 crore revenue from scrap disposal in Feb

The Centre has earned Rs 10.25 crore revenue by scrap disposal in February, an official statement issued on Tuesday said. In its monthly report on the secretariat reforms for February, the Department of Administrative Reforms and Public Grievances (DARPG) said 1,05,514 files were weeded out and 3,56,533 public grievances against different government departments were disposed. About 1.28 lakh square feet of space was freed in February and Rs 10.25 crore of revenue earned by scrap disposal in February, 2023, the statement issued by the Personnel Ministry said.

IRB Infra toll collection revenue grows 36% to Rs 374.81 cr in Jan

IRB Infrastructure Developers Ltd (IRB) on Friday said its revenue from toll collection grew 36 per cent to Rs 374.81 crore in January 2023. The toll collection stood at Rs 276.44 crore in January 2022, IRB said in a statement. "The consistently robust growth in toll revenue across all our projects over last year reflects economic stability that the country has achieved post-pandemic, and these corridors are playing a vital role in it," Virendra D Mhaiskar, Chairman & Managing Director of IRB Infrastructure Developers said. IRB has a track record of constructing, tolling, operating and maintaining around 15,500 lane km across India. IRB Infrastructure Developers is India's leading and one of the largest integrated infrastructure players in the highways sector.

Recovery of over Rs 7,000 cr revenue arrears pending: CAG to Kerala govt

The Comptroller and General (CAG) of India has found that the Kerala government has failed to collect revenue arrears of Rs 7,100.32 crore, which was outstanding for more than five years and stressed the need for urgent intervention to clear it. The government departments should create a database of outstanding arrears for effective monitoring and follow-up for recovery of arrears, it recommended. The total arrears of Rs 21,797.86 crore amount to 22.33 per cent of the total revenue of the southern state, according to the latest CAG report. "The total arrears of revenue as on 31 March 2021 on certain principal heads of revenue amounted to Rs 21,797.86 crore of which Rs 7,100.32 crore was outstanding for more than five years," it said. The Combined Compliance Audit Report (Revenue Sector), Govt. of Kerala for the period 2019-21 of the Comptroller and Auditor General of India was tabled in the state Assembly on Thursday. "Out of the total arrears, Rs 6,422.49 crore (29.46 per cent)

Budget 2023: Higher crude exploration drives non-tax revenue goal

The government lists receipts from licence fees for the right of exploration of oil and gas, as well as royalty on off-shore crude oil and gas production

Railways posts 73% revenue growth in Apr-Jan 2023 from same period in 2022

The railways' revenue earnings are up by 73 per cent in the passenger segment during April-January 2023 as compared to the same period last year, according to an statement issued by the national transporter. The total approximate earnings in the passenger segment for Indian Railways on originating basis during April to January 2023 is Rs 54,733 crore, registering an increase of 73 per cent in comparison to Rs 31,634 crore achieved during the same period last year, it said. In reserved passenger segment, the total approximate numbers of passengers booked during the period 1st April to 31st January 2023 is 6,590 lakh as compared to 6181 lakhs during the same period last year, showing an increase of 7 per cent. The revenue generated from reserved passenger segment during the period 1st April to 31st January 2023 is Rs 42,945 crore as compared to Rs 29,079 crore during the same period last year, showing an increase of 48 per cent, the statement read. In the unreserved passenger segment

Govt projects 10.5% growth in revenue from taxes to Rs 18.23 trn in FY24

The government on Wednesday projected a 10.5 per cent growth in revenues from corporate and individual income tax to Rs 18.23 lakh crore in the next fiscal. The revised estimates for the current fiscal pegged direct tax revenues at Rs 16.50 lakh crore, higher than the budget estimates of Rs 14.20 lakh crore. In the current fiscal (2022-23), the revenues from direct tax (which includes income and corporate taxes) are projected to grow by over 17 per cent compared to 2021-22 fiscal when the collection was Rs 14.08 lakh crore. In the current fiscal, the revenue from corporate tax is expected to come in at Rs 8.35 lakh crore. This is projected to rise by 10.4 per cent to over Rs 9.22 lakh crore in the next fiscal. Personal income tax collections this fiscal are estimated at Rs 8.15 lakh crore and are projected to rise by 10.4 per cent to over Rs 9 lakh crore next year. Collections from Customs duty are expected to rise by 11 per cent to Rs 2.33 lakh crore, from Rs 2.10 lakh crore in t

Taxing demands

Unrealistic revenue targets will affect business environment

CBDT to hold high-level meeting to review revenue collection of FY23

Move seen as part of department's revenue maximisation exercise

India's fiscal consolidation trend intact; to see strong revenues: Moody's

Moody's Investors Service on Tuesday said the trend of gradual fiscal consolidation remains intact for India and going forward the country will see strong revenue performance and debt stablisation. Moody's Investors Service Senior Vice President Christian de Guzman said India's 'Baa3' sovereign rating balances its strength of relatively high economic growth and weakness of one of the most highly indebted emerging market sovereigns. The country's healthy financial system is reflected in deleveraging by Indian corporates. "We expect that India is going to be the fastest growing G-20 economy next year... (but) high inflation pose a downside risk to India's growth as households and businesses have less purchasing power," Guzman said in a Moody's virtual event 'Sovereign Deep Dive'. Moody's had earlier this month cut India's growth projection for 2022 to 7 per cent, from 7.7 per cent projected earlier. It expects growth to decelerate to 4.8 per cent in 2023 and then to rise to around 6.4

Cumulative stamp duty, registration fee revenue jumps 35% in H1: Report

Cumulative revenue collection from stamp duty and registration fees across 27 states and the Union Territory of J&K rose to Rs 94,800.47 crore in the first half of 2022-23 (H1FY23), logging in a robust 35 per cent on-year growth from Rs 70,100.20 crore in the year-ago period, shows a report. The average monthly revenue collection from these levies rose to Rs 15,800.07 crore in the reporting first half period, up from Rs 11,600.87 crore in H1FY22, according to the data collated by Motilal Oswal Financial Services. Being the largest state in terms of the size of its economy and the sky-high Mumbai property prices, it is not surprising that Maharashtra leads the table with the highest collection of revenue from this head at Rs 18,600 crore which grew 65 per cent from the previous year, the report said, adding this is 20 per cent of the overall stamp duty and registration charges for the country in H1. In the second slot is Uttar Pradesh with Rs 12,300.94 crore in revenue from this ...

Covid-19 China: Consumer revenue will fall this quarter, warns iPhone maker

The company, known also as Foxconn, reported earnings that missed estimates for the third quarter and said revenue growth will be flat for the current three-month period

Uncertainty on revenue growth, margin outlook hits Gland Pharma stock

The injectable manufacturing company expects the margin pressure to persist due to cost pressures and negative operating leverage.

Asian Paints' Q2 net profit rises 33% to Rs 804 cr; revenue up 19%

Asian Paints on Thursday reported 32.83 per cent rise in consolidated net profit at Rs 803.83 crore for the second quarter ended September 30, 2022 driven by robust sales. The company had posted a net profit of Rs 605.17 crore in the same quarter last fiscal year, Asian Paints said in a regulatory filing. Revenue from operations stood at Rs 8,457.57 crore in the quarter under review as compared to Rs 7,096.01 crore in the year-ago period, it added. "The domestic decorative business showed resilience to deliver a double-digit volume growth and healthy value growth despite subdued demand conditions, impacted by the extended monsoon," Asian Paints Managing Director & CEO Amit Syngle said. The home decor business continued to gain traction with focus on lighting, kitchen and bath along with expansion of 'Beautiful Homes Stores' and the home decor implementation arm, 'Beautiful Homes Service' across markets, he added. Syngle further said,"The auto OE (original equipment) business ...

Railways' passenger revenue in April-Oct 8 period up by 92% at Rs 33,476 cr

The railways' passenger revenue in the period between April 1 and October 8 was around Rs 33,476 crore, an increase of 92 per cent over the corresponding period last year, the national transporter said in a statement on Tuesday. The Indian Railways' passenger revenue on originating basis during the April 1-October 8 period last year was Rs 17,394 crore. In the reserved passenger segment, the total approximate number of passengers booked during the period is Rs 42.89 crore as compared to 34.56 crore during the same period last year, showing an increase of 24 per cent, it said. The revenue generated from reserved passenger segment during the period from April 1 to October 8, 2022 is Rs 26,961 crore as compared to Rs 16,307 crore during the same period last year, showing an increase of 65 per cent. In the unreserved passenger segment, the total approximate number of passengers booked during the period is Rs 268.56 crore as compared to Rs 90.57 crore during the same period last year, .

FMCG companies may see price hike-led revenue growth In July-September

Volumes to remain under pressure due to grammage reductions

AP's revenue collection around Rs 26,000 cr in first half of 2022-23: CMO

Andhra Pradesh government's revenue has touched Rs 25,928 crore in the first half of financial year 2022-23, the Chief Minister's Office said. This was 94.47 per cent of the targeted Rs 27,445 crore for the first half of the year, the CMO said in a release on Thursday, citing officials who took part in a review by Chief Minister Y S Jagan Mohan Reddy on revenue earning departments. The release said Goods and Services Tax (GST) collection in the state was 28.79 per cent in the April-September period as against the national average of 27.8 per cent. It also quoted the officials as informing the Chief Minister that the state's revenue was "on track" and that they were taking steps to "plug the leaks". A couple of days ago, the Comptroller and Auditor General of India (CAG) released the state accounts for the first five months of 2022-23, putting AP's tax revenue at Rs 43,499.73 crore. This was Rs 6,448.94 crore excess as compared to the first five months in the previous fiscal. Betw

Retail chain D-Mart's Q2 revenue jumps 35.7% to Rs 10,384.66 crore

Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, has reported a 35.75 per cent rise in standalone revenue from operations to Rs 10,384.66 crore for the second quarter of the current fiscal. The company had revenue from operations of Rs 7,649.64 crore in the year-ago period, according to a regulatory filing. "Standalone revenue from operations for the quarter ended September 30, 2022, stood at Rs 10,384.66 crore," it said in the regulatory filing on Monday. It had a total of 302 stores at the end of September. In the July-September quarter of FY 2020-21, Avenue Supermarts' standalone revenue was at Rs 5,218.15 crore. It was at Rs 5,949 crore in the pre-pandemic July-September quarter of FY 2019-20. Promoted by Radhakishan Damani and his family, DMart retails basic home and personal products across various states including Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana and Tamil Nadu.

Sula Vineyards eyes double-digit revenue growth in next five years

The company has filed its draft prospectus with Sebi and is awaiting approval for its IPO

Sula Vineyards eyes double-digit revenue growth in next five years

The company has filed its draft prospectus with Sebi and is awaiting approval for its IPO

Mother Dairy expecting 20% revenue growth in FY23 to Rs 15,000 cr

Delhi-NCR's leading milk supplier Mother Dairy is expecting 20 per cent growth in turnover this fiscal year to about Rs 15,000 crore on better demand for products, its MD Manish Bandlish said. The turnover of Mother Dairy, which also sells edible oils and fruits & vegetables, stood at Rs 12,500 crore in last fiscal year. "We are expecting 20 per cent growth this fiscal year in our turnover to reach around Rs 15,000 crore," Mother Dairy Fruits and Vegetables Pvt Ltd MD Manish Bandlish told PTI on the sidelines of IDF-World Dairy Summit held last week at Greater Noida. He said growth would be driven by both increase in volumes and values of its various dairy products. "We are witnessing strong demand for all our milk and other dairy products. Ice cream sales have grown significantly during summer," Bandlish noted. Ice cream sales were adversely affected during summers of 2020 and 2021 because of the pandemic-induced lockdowns. Last month, Mother Dairy increased milk prices by Rs 2