Page 2 - Sales

Nestle India could sustain sales growth outperformance in coming quarters

Near-term margins, however, may remain under pressure

Nestle India profit up 8.3% in Sept qtr, net sales growth at five-year high

Strong growth in e-commerce channels driven by emerging formats such as 'quick commerce' and 'click & mortar'; E-commerce contribution to sales at 7.2% in the quarter

Apartments sales in 7 cities at 161k units in Jan-Sep; highest since 2015

Sales of only apartments in January-September this year across seven cities stood at 1,61,604 units, surpassing the annual numbers achieved in the last seven years, according to JLL India. Property consultant JLL India on Tuesday released the residential sales data of Delhi-NCR, Mumbai, Pune, Kolkata, Bengaluru, Hyderabad, and Chennai markets. The data includes only apartments. Rowhouses, villas, and plotted developments are excluded from its analysis. As per the data, the annual sales of apartments in the 2014 calendar year stood at 1,65,791 units, while sales in 2015 were 1,57,794 units. As many as 1,46,852 units were sold in 2016, 95,774 units in 2017, 136,082 units in 2018, and 1,43,302 units in 2019. The apartment sales plunged in 2020 to 74,211 because of the COVID pandemic. The demand recovered to 1,28,064 in 2021. "Quarterly residential sales have seen a revival since Q3, 2021, which has further gained momentum this year with sales of over 50,000 units in each of the first

MG Motor India expects to turn profitable next year on higher sales

MG Motor India expects its operations to turn profitable next year as it looks to double its volumes with higher production capacity in place, the company's President and Managing Director Rajeev Chaba said on Monday. The company, which has been impacted by acute supply chain constraints, is looking to close the current year with sales of around 55,000-56,000 units. "Next year, we are looking at doubling our volumes. If we do 56,000 units this year and we are targeting over one lakh units in 2023. So that is why we think next year is definitely going to be a big year for us," Chaba told PTI in an interaction. He noted that the company is in the final stage of completing capacity expansion at its Halol-based manufacturing plant in Gujarat which would help it scale up dispatches to dealers next year. MG Motor had bought the Halol plant from General Motors and has been able to ramp the annual production capacity from 65,000 units to 1.25 lakh units now. "Last year we sold around 40,0

Titan sees 18% sales growth in September quarter; adds 105 new stores

Tata group firm Titan on Thursday said its overall sales grew 18 per cent year-on-year in the September quarter. The company, which operates in the segments as Jewellery, Watches & Wearables, and EyeCare has witnessed "healthy double-digit growth across most businesses," according to a quarterly update. Titan added 105 stores in its retail network in the second quarter of the current fiscal. "The company witnessed healthy double-digit growth across most businesses with overall sales growing 18 per cent YoY," Titan said. About the outlook for the festive season, the company said it continues to be "optimistic and is visible in positive consumer sentiment" across categories. During the September quarter, Titan's jewellery division, which contributes around 85 per cent of its revenue, grew "18 per cent YoY on a high base of Q2FY22 that had elements of pent-up demand and spillover purchases of a Covid-disrupted Q1 FY22". The product-mix in the jewellery division improved compared to

SoftBank-backed Meesho records nearly 68% jump in festival sales

Customers placed a record of about 33.4 million orders during the mega sale with nearly 60 per cent of all orders coming from tier 4+ cities.

Reliance Retail's JioMart begins a month-long festival season sale

JioMart will host two sales during this time- Tyohaar Ready Sale and the Bestival Sale

Yes Bank approves sale of Rs 48,000 cr stressed loans to JC Flowers ARC

Former RBI Deputy Governor R Gandhi appointed as Yes Bank's non-executive chairman

E-registration of property promises freedom from long queues, touts

However, the procedure is currently limited only to primary sales in Maharashtra

Shopping mall sales in top-8 cities to hit $39 bn by FY28: Knight Frank

The high revenue growth has largely been predicted due to increasing mall supply in next six years, sustenance of rising consumption demand

12% of Apple's iPhones sold worldwide could be India-made by FY26

Vendors' minimum commitment of FoB value for incremental production under PLI will be the decider

Nikon India hopes Rs 1,000 cr revenue by FY24 amid robust sales recovery

Imaging products major Nikon India is expecting to clock a revenue of Rs 900 crore this fiscal, riding on a robust sales recovery with the waning COVID-19 pandemic, a company official said. It is hoping to cross the Rs 1,000-crore sales mark by the 2023-24 financial year (FY24), he said. In a bid to retain festive months' sales buoyant, the company has not hiked prices of its products despite pressure on margin and supply chain with rising costs, Nikon India managing director Sajjan Kumar said. The festive season spreading from Onam to Diwali contributes 32-35 per cent of its total annual revenue, he said. "With the robust recovery, we are going to surpass the pre-COVID level sales this year. We expect Rs 900 crore turnover in FY'23 and will exceed the Rs 1,000-crore mark in FY'24," Kumar said in an interview. The camera market is estimated at Rs 3,000 crore per annum, he said, adding that products for social media content creators and professionals are the growth drivers. The pr

Tencent fires 5,500 workers as sales down for first time since going public

Chinese conglomerate Tencent has fired 5,500 employees, after posting a revenue of $19.8 billion in the June quarter, down 3 per cent which is the first decline since going public.

Retail sector reports healthy over pre-pandemic level growth: RAI

Retail businesses across India continued to post healthy growth over pre-pandemic levels, registering an 18 per cent rise in July sales compared to the same month in 2019, Retailers Association of India said on Wednesday. As per the latest business survey by Retailers Association of India (RAI), the East India region saw the highest year-on-year growth of 25 per cent last month, followed by the south at 21 per cent, north at 16 per cent and west at 10 per cent. In terms of categories, sports goods clocked the highest growth rate with a 32 per cent increase over July 2019, followed by footwear and furniture & furnishing at 23 per cent each. Apparel and clothing registered a 22 per cent rise, while quick service restaurants, consumer durables and electronics footwear posted a growth of 17 per cent, according to the survey. The jewellery category grew by 15 per cent in July this year compared to the same month in 2019, while food and grocery rose 11 per cent. Beauty, wellness and ...

Walmart expects smaller profit drop in 2022 as discounts drive demand

The retailer spooked markets across the globe last month when it slashed its profit forecast and warned that consumers were pulling back on discretionary purchases at a far greater pace than feared

Raymond posts Q1 net profit at Rs 82 crore helped by an increase in sales

Its revenue from operations was at Rs 1,728.14 crore, up two-fold, in comparison with a lower base of the pandemic-impacted corresponding quarter.

PwC India completes acquisition of Salesforce consulting firm Venerate

Venerate, which was founded in 2016 in Bangalore, builds customised solutions on the Salesforce platform across multiple clouds. The solutions help organisations in managing customers and sales

Adani Wilmar's Q1 net profit rises 10% to Rs 194 cr on higher sales

Angshu Mallick, Managing Director and CEO, Adani Wilmar, said the company has continued to demonstrate a steady growth in overall volumes, led by the foods business.

PwC India completes acquisition of Venerate Solutions Private Ltd

Venerate builds and deploys customised solutions on the Salesforce platform across multiple clouds including financial services cloud, salesforce marketing cloud, etc

Sun Pharma Q1 net up 43% to Rs 2,061 crore on specialty sales, India biz

Gross sales up 10.1% YoY to Rs 10,644 cr; EBITDA at Rs 2,884.4 cr, with a margin of 26.8%