Page 2 - Consumer Demand

Concorde acquires 1.6 acre land in Bengaluru for Rs 200 cr housing project

Realty firm Concorde on Thursday said it has acquired a 1.6-acre land parcel in Bengaluru to develop a housing project with a revenue potential of Rs 200 crore. "Set to be a premium high rise residential complex, this joint development will have a gross development value (GDV) of Rs 200 crore," the company said in a statement. The proposed project, located on Sarjapur road, will have a developable area of around 2.25 lakh square feet. "This acquisition reinforces our commitment to delivering innovative and high-quality living spaces that meet the evolving needs of modern homebuyers in strategic locations," Nesara B S, Chairman at Concorde, said. To expand business amid strong consumer demand, real estate developers are buying land outright and are also forming partnerships with landowners to develop projects. Concorde is one of the leading real estate firms in the country.

Rural demand picking up, likely to hold this year: RBI Governor Das

RBI guv says premature to change stance, FY24 CAD may be less than 1%

Urban demand slows down for FMCG products as rural picks up steam

According to Kantar Worldpanel, rural has overtaken urban growth at the quarterly level quicker than expected

After 5 quarters, rural FMCG consumption outpaces urban: NIQ report

While there is a consumption slowdown in urban markets and modern trade channels, rural markets and traditional trade registered an uptick, said NIQ

China industrial overcapacity has peaked as global demand picks up: EIU

Overcapacity pressure is milder in electrical machinery including batteries and solar panels, the automotive sector and pharmaceuticals, the EIU said

Decoding GDP numbers: Consumption sluggish, govt capex powers investment

According to the latest gross domestic product (GDP) data released by the National Statistical Office on Thursday, private final consumption expenditure (PFCE) grew at 3.5 per cent in the December qtr

India to mitigate slowing Apac growth on robust domestic demand: Moody's

Moody's Investors Service on Tuesday said growth in Asia Pacific will decelerate in 2024 as a downshift in China's growth trajectory will spill over in the region through trade in goods and services, but India will be able to mitigate the challenge aided by robust domestic demand. In a report on Asia-Pacific, Moody's said the region is marked with a heavy calendar of elections in 2024, notably in India, Taiwan, Indonesia, Korea and Bangladesh. "The election outcomes will either facilitate domestic policy continuity or lead to increased polarization, and have a bearing on geopolitical relationships," said a Moody's report titled 'Growth headwinds, tight funding and geopolitics will define 2024 conditions'. It said a downshift in China's economic growth rate and a cyclical slowdown in the US will weigh on Asia-Pacific (APAC)'s credit conditions in 2024. Peaking inflation globally will provide space for monetary tightening cycles to slow, but financial conditions will remain difficult

Abbott Q3 results: Profit rises 26% to Rs 311 cr on strong demand

The company, which makes popular antacid medicine Digene, said its profit rose to 3.11 billion rupees ($37.5 million) from 2.47 billion rupees a year earlier

Power consumption rises nearly 6% to 133.83 billion units in January

India's power consumption grew nearly six per cent to 133.83 Billion Units (BU) in January 2024 as compared to the year-ago period, according to government data. In January 2023, power consumption stood at 126.30 BU, higher than 111.80 BU recorded in the same month a year ago, the data showed. The peak power demand met -- the highest supply in a day -- rose to 222.32 GW in January 2024. The peak power supply stood at 210.72 GW in January 2023 and 192.18 GW in January 2022. Experts said that power consumption as well as demand improved in January as mercury fell sharply in the month, especially in North India. The cold wave resulted in increased use of heating equipment like heaters, blowers and geysers which led to increase of power demand as well as consumption. The power ministry had estimated the country's electricity demand to touch 229 GW during the summer in 2023. The demand did not reach the projected level in April-July due to unseasonal rains. The peak supply, however,

GCPL Q3 results: Net profit rises by 6.3% to Rs 581 cr, revenue up 1.54%

FMCG major Godrej Consumer Products Ltd on Wednesday reported a 6.35 per cent increase in consolidated net profit to Rs 581.06 crore in the December quarter, aided by volume growth in the domestic market. It had posted a net profit of Rs 546.34 crore in the year-ago period, said Godrej Consumer Products Ltd (GCPL) in a BSE filing. Revenue from the sale of products of the Godrej group's FMCG arm was up 1.54 per cent to Rs 3,622.80 crore in the third quarter of the ongoing fiscal. It was Rs 3,567.72 crore in the corresponding period of the last fiscal. GCPL's total expenses in the December quarter was down 1 per cent at Rs 2,939.39 crore. Total revenue of GCPL during the quarter was Rs 3,729.72 crore, up 2.4 per cent. GCPL Managing Director and CEO Sudhir Sitapati said, "We continued to deliver steady performance in the third quarter despite challenging market conditions." "Our consolidated volumes grew 8 per cent, led by the India business growing volumes at 12 per cent and Indone

Blue Star Q3 results: Profit jumps to Rs 100 cr on strong festive demand

The company posted a consolidated net profit of Rs 100 crore ($12 million) for the three months ended Dec. 31, up nearly 72% from last year. Revenue from operations rose about 25%

ITC Q3 results: Net profit rises 10.8% to Rs 5,572 crore, beats estimates

The company's profit rose 10.8% to Rs 5,572 crore ($670.3 million) in the third quarter ended Dec. 31

Sterlite Tech Q3 results: Loss at Rs 57 crore amid optical demand headwinds

Optical and digital solutions company Sterlite Technologies (STL) on Thursday reported a loss of Rs 57 crore on a consolidated basis in December quarter 2023-24, hit by ongoing optical demand headwinds, especially in the US and parts of Europe. The company had posted a net profit of Rs 51 crore in the year-ago period. Revenue from operations was Rs 1,322 crore in Q3FY24, the company said in a regulatory filing. Revenue stood at Rs 1,883 crore in the year-ago period. EBITDA declined sequentially to Rs 109 crore from Rs 216 crore. "The company reported a sequential decline in revenue and EBITDA in Q3 FY24 amidst ongoing optical demand headwinds, especially in the US and parts of Europe," STL said in a release. Ankit Agarwal, Managing Director of STL said the downturn is temporary. While this downturn is temporary, the cost base and capabilities that we have built around product design, quality, manufacturing presence, and sustainability will reap benefits far into the future," Agar

Pidilite's Q3 profit jumps to Rs 510 crore on strong demand, lower costs

Consolidated net profit rose to 5.10 billion rupees ($61 million) in the October-December period from 3.04 billion rupees a year earlier, the maker of Fevicol brand of adhesive said

Colgate-Palmolive India Q3 profit jumps 35% to Rs 330 cr on lower expenses

Net profit rose to Rs 330 crore for the quarter ended Dec. 31 from Rs 243 crore rupees a year earlier

Tata Consumer Products to raise $782 mn through issue of commercial papers

Tata Consumer Products said on Friday it will raise up to 65 billion rupees (about $782 mn) through issue of commercial papers and rights issue of shares

Top FMCG makers expect low to mid-single-digit volume growth in Q3

Leading FMCG makers are expecting a low to mid-single-digit volume growth in the October-December quarter, with an improvement in consumer demand on a sequential basis. Consumer demand from the rural market is lagging, though the urban markets stayed steady in the third quarter as exhibited in the September quarter, said leading listed FMCG firms such as Dabur, Marico and Godrej Consumer Products in their quarterly updates. Companies are optimistic of a gradual uptick as early signs of revival in consumption are visible with improving trends in volumes. Besides, the makers also expect expansion in the gross margins on a year-on-year basis helped by moderating inflation as prices of key inputs such as copra and edible oil prices remained at lower levels and crude derivatives also exhibited some downward bias. This will help FMCG makers channelise more funds towards advertising and promotions. "A significant portion of gross margin expansion will be channelled into enhancing adverti

Dhanteras 2023: Jharkhand traders hopeful as post Covid-19 demand soars

Markets in Jharkhand are all geared up for brisk business on the occasion of Dhanteras on Friday, an official of the state chamber of commerce said. People prefer to buy things on the occasion of Dhanteras. Automobile, electronics, home appliances and bullion markets are expected to do brisk business this year, he said. Vice President of the Federation of Jharkhand Chamber of Commerce and Industries (FJCCI) Aditya Malhotra told PTI, "Market has settled down now after the turbulence triggered by Covid pandemic two years back. Purchasing capacity of people has also increased. Overall, we can say the market is in a better mood this year." Malhotra said, "Even though it would not be appropriate to give figures, we are hoping that the overall market would go up by 25 per cent compared to the previous Dhanteras." The automobile sector is likely to do brisk business with a surge in demand for both two-wheelers and four-wheelers. "The demand for SUVs is high. Besides, there is a huge sur

Recovery signs in rural consumption, but stress remains: Kantar report

Household consumption has also grown on the back of the return of atta into shoppers' baskets, after the government halted the free grain distribution scheme

Weekend Bites: More trouble in IT paradise, RBI's plans, and taxing expats

In which we munch over the week's platter of news and views