Page 2 - Revenue Collection

With a loss of Rs 4,588 crore, Byju's FY21 report card has many red marks

The FY21 revenue figure of Rs 2,428 cr is similar to the revenue figure of Rs 2,434 cr in the previous year, though the difference is that the bottom line in 2019-20 showed a profit of Rs 51 cr

'Consumer durables sector revenue to rise 15-18% to cross Rs 1 trn in FY23'

Despite increasing margin pressure, the consumer durables sector is likely to witness a double-digit volume growth, pushing its revenue up by 15-18 per cent to Rs 1 lakh crore this fiscal, according to a report. According to the report, a 10-13 per cent spike in demand/volume, which will be driven by both urban and rural segments -- led mostly by the AC and refrigerator segments, though rural demand will come into play in the second half of the fiscal. The industry had crossed the pre-pandemic mark in value terms last fiscal, and this fiscal, it will scale past the pre-pandemic volume mark by 3 per cent, a Crisil report said on Wednesday. The Crisil report said a 10-13 per cent spike in volume will boost the top-line of the sector by 15 to 18 per cent this fiscal, taking past the size of the durables industry to over Rs 1 lakh crore, which will be 3 per cent above the pre-pandemic size. However, margins are under pressure given the run-away commodity prices of inputs like copper, .

Would surpass Rs 21,000-crore revenue target by 2026: ABFRL chairman

Aditya Birla Fashion and Retail Ltd (ABFRL) is confident of fortifying its market position further and surpassing the projected revenue of Rs 21,000 crore by 2026, said its chairman Kumar Mangalam Birla on Monday. ABFRL is leveraging technology and its execution excellence to build a strong, profitable and future-ready brand portfolio, Birla told shareholders at the 15th annual general meeting of the company. "We had projected a revenue of Rs 21,000 crore for the year 2026 during our annual investor day held in March 2021. I am very confident that we will be able to surpass that target and set even higher milestones for the business going forward," he said. For the financial year ended on March 31, 2022, ABFRL's revenue stood at Rs 8,136 crore, recording a growth of 55 per cent. "The strong revenue recovery resulted in improved profitability over the previous year. Several initiatives encompassing cost management, supply chain optimisation and smart procurement were taken up by the

Hit on revenues from alcohol to dent Delhi govt's revenue balance

The projected revenue from alcohol estimated at the time of presenting the Budget constituted around 20 per cent of the state's expected own tax revenue and 15 per cent of its total receipts.

States' revenue growth to slide to 9% despite robust GST collections: Study

States' revenue growth will slide to 7-9 per cent in FY23 even as handsome GST collections will help in the accretion, a report said on Wednesday. The revenue growth had galloped 25 per cent in FY22 courtesy a lower base in the pandemic-affected FY21, the report by rating agency Crisil, which analysed 17 states accounting for 90 per cent of the aggregate GSDP, said. In FY23, healthy tax buoyancy will be supporting the revenue growth, with Goods and Services Tax (GST) collections and devolutions from the Centre -- which together comprise up to 45 per cent of the states' revenue -- expected to show robust double-digit growth, it said. The agency's senior director Anuj Sethi said the biggest impetus to the revenue growth will come from aggregate state GST collections, which had already rebounded by 29 per cent in FY22. "We expect this momentum to sustain and collections to further increase 20 per cent this fiscal, supported by better compliance levels, higher inflationary environment

IT industry's 'people' conundrum may delay its revenue growth targets

The current talent crisis may delay the industry's efforts to move up the value chain by delinking headcount and revenue streams

Dr Lal PathLabs Q1 net profit dips 57% to Rs 58 cr; revenue falls 17%

Diagnostic services provider Dr Lal Path Labs on Thursday said its consolidated net profit declined 57 per cent to Rs 58 crore for the first quarter ended June 30

Century Plyboards Q1 profit rises 3-fold to 92.62 cr; revenue up 94.3%

Century Plyboards (India) Ltd on Wednesday reported a nearly three-fold rise in its consolidated net profit to 92.62 crore for the first quarter ended on June 2022. The company had reported a net profit of Rs 31.07 crore in the April-June quarter a year ago, Century Plyboards said in a BSE filing. Its revenue from the operation rose 94.25 per cent to Rs 888.78 crore during the quarter under review. It was Rs 457.54 crore in the corresponding quarter previous fiscal. Century Plyboards' total expenses increased 83.74 per cent to Rs 768.97 crore in Q1 FY2022-23 against Rs 418.50 crore. Meanwhile, in a separate filing Century Plyboards said its board in a meeting held on Wednesday approved the scheme of arrangement between the company and its wholly-owned subsidiary Century Infra Ltd. As per the scheme, Century Plyboards will transfer its Container Freight Station Services Undertaking business to its arm Century Infra on a slump sale basis. In consideration, Century Infra will issue

PepsiCo's India revenue & volume grew in double-digits in 3 mths to June 11

PepsiCo India has also been gaining market share in India since the start of 2022.

D-Mart Q1 reports almost two-fold rise in revenue to Rs 9,806.89 crore

This is also helped by a comparatively low base of the pandemic impacted the corresponding quarter.

Future Consumer Q4 net loss widens to Rs 346 cr, revenue dips 32%

Future Consumer Ltd (FCL), the food-led FMCG company of debt-ridden Future Group, on Friday reported widening of its net loss to Rs 346.23 crore for the fourth quarter ended March 31, 2022. The company, which posted a net loss of Rs 155.12 crore in the January-March quarter a year ago, said due to the impact of COVID-19 and insolvency proceedings against its main customer Future Retail Ltd, there is a material uncertainty over the group's ability to continue as a going concern. Its revenue from operations was down 32.03 per cent to Rs 262.54 crore during the period under review, as against Rs 386.26 crore in the corresponding period last fiscal, FCL said in a regulatory filing. FCL's total expenses were at Rs 533.43 crore, up 6.67 per cent in Q4/FY 2021-22, as against Rs 500.06 crore. For the fiscal year ended March 2022, FCL's net loss was at Rs 449.75 crore. It had a net loss of Rs 483.30 crore in the previous year. However, its revenue from operations was at Rs 1,468.78 crore i

Distribution gains to bolster volume growth for Varun Beverages

The impact of rising raw material prices is a near term concern

Search for tax evasion

India needs to expand its tax base

Net direct tax collection jumps 60.8% to Rs 9.5 trillion in FY22 so far

Improvement in mop-up bodes well for achieving govt's fiscal deficit target at 6.8% of FY22 GDP

FM Sitharaman bats for expanding tax net, ramping up collections

Revenue secy says I-T portal working fine, 300,000 returns being filed daily

Subdued revenue spend may hit economic recovery, say economists

Experts say reduction in revenue expenditure may not result in capex rise

Avg annual revenue collection from tobacco products at Rs 53,750 cr: FM

Finance Minister Nirmala Sitharaman on Tuesday told the Rajya Sabha that the average annual revenue collection, including GST and excise duty, from tobacco products, stands at about Rs 53,750 crore. In reply to a question, the minister also said the GST rates, including compensation cess rates, on goods are fixed on the basis of the recommendations of the GST Council. Answering supplementary questions, she said many non-governmental organisations (NGOs) and consumer education forums have suggested to increase levies on tobacco products considering the health impact. "In the GST Council, we have formed a Group of Ministers (GoM). It has been given the terms of reference to see if on the capacity of a producing unit, where evasion is high, we can consider looking at an increase in the price. "Such items like tobacco have also been put into that list... We will wait for the GoM to come back with its recommendations," she said. Prasanna Acharya (Biju Janata Dal) had asked her if the .

NYSE-listed BPM firm Startek eyes $1-billion revenue in next 2 years

Part of the push to reach this $1 billion target may also come from Chennai-based CSS Corp in which StarTek acquired 26 per cent stake in the company for $30 million, early this year.

Neuberg Diagnostics says will cross Rs 1,000 cr revenue milestone in FY22

The company is planning to set up 10 more labs in the northern and eastern parts of the country for deeper penetration

Contract mfg, exports add to revenue visibility for Sumitomo Chemical

Revenue growth, higher share of specialty products to improve margins going ahead