Page 3 - Consumer Demand

Shoppers Stop Q2 results: Net profit slumps at Rs 2.7 crore on weak demand

Retail chain Shoppers Stop on Wednesday reported a decline of 83.14 per cent in consolidated net profit at Rs 2.73 crore in the second quarter ended September 30, on muted demand in the apparel business and offset by growth in non-apparel business. The company had posted a net profit of Rs 16.20 crore in the July-September period a year ago, Shoppers Stop said in a regulatory filing. Its revenue from operations during the first quarter of this fiscal was at Rs 1,039.12 crore, up 2.6 per cent against Rs 1,012.74 crore in the year-ago period. The total expenses in the September quarter were at Rs 1,041.31 crore, up 5 per cent. "Shoppers Stop reported impressive financial results, despite challenging market conditions and shifting of Pujo from Q2 to Q3 this fiscal. We have witnessed a strong pick-up in the Beauty businesses and consistent performance from non-apparels," Shoppers Stop Executive Director and CEO Kavindra Mishra said. Its "net profit for the quarter was affected due to

Will the September uptick in rural economy sustain in future?

The uptick in monsoon rains in September after a dry August and improvement in kharif acreage seem to be the immediate plausible reasons for the improvement

Lower inflation's full impact likely from Q3: Dabur India's Mohit Malhotra

The home-grown fast-moving consumer goods major also anticipates a good festival season to aid its growth in the December quarter

Jute industry revenue likely to dip by 5-6% on weak overseas demand: Report

Jute industry's revenue is likely to witness a decline of 5-6 per cent in this financial year due to lower exports, a report said on Wednesday. According to Crisil Ratings, this would be the second consecutive year of fall for Jute industry revenue, However, domestic demand is expected to be stable, it added. Exports, which form a third of the sector's revenue of Rs 12,000 crore, are seeing a 15 per cent dip this fiscal, after falling 8 per cent last fiscal, as overseas channel partners continue to destock amid slowdown worries in the US and Europe, Crisil Ratings said in the report. Weak overseas demand is likely to snip 5-6 per cent off revenue of the jute industry in the country this fiscal, the report added. The US and Europe are the key export markets accounting for over 60 per cent of the total jute exports from India, it noted. The end-use of jute in these markets is largely discretionary, the report added. In contrast, the report stated that the domestic demand is expecte

Rural demand growing very slowly after signs of revival: Wipro Consumer

Company expected demand to be much better due to low base last year. While volumes are back, growth is still in low single digits

Export growth still depends on demand in Europe, North America

The government is pinning its hopes on increased investment that its Production Linked Incentives (PLI) scheme may attract

Demand trajectory slightly improved sequentially in March quarter: Dabur

Demand trajectory across urban and rural markets in India has shown a "slight improvement" sequentially in the March quarter, although it falls short of a full recover, FMCG major Dabur said. Despite near-term consumption pressure, some "green shoots" are emerging such as moderating inflation, improving consumer confidence and increase in government spending. "While urban markets have returned to positive volume growth, rural markets still remain muted," said Dabur in its latest quarter updates. The company expects a "mid-single digit revenue growth" for the January-March quarter in such a scenario. Its F&B business continues to trend at robust levels and will report strong double-digit growth, while healthcare portfolio is expected to be in a positive growth trajectory, it added. Home & Personal Care (HPC) will report low single-digit revenue growth on account of a slowdown in the personal care categories. "Our brands continued to record gain in market shares in most of the ..

FMCG cos expect fewer price hikes, robust growth in 2023 despite headwinds

Industry strong enough to withstand another Covid hot for at least two quarters; global recession to have little impact; rural demand remains a concern

Samsung to hold strategy meeting next week amid macroeconomic woes

Samsung executives will discuss how to navigate mounting challenges from the sluggish global economy, slowing consumer demand, geopolitical tensions and continuing spread of the coronavirus

Rural demand for FMCG dips 17% in Nov as post-festive consumption slows

Urban demand also hit, but not as badly; Overall FMCG sales decline 15.3% MoM and 2.7% YoY

Top Headlines: One licence for insurance biz, amendment in IBC, and more

Here is our morning brief of today's top headlines

Goldman sees India's growth slowing in 2023 as post-pandemic benefits fade

Gross domestic product may expand by 5.9% in calendar year 2023 from an estimated 6.9% this year

India PC market declines by 11.7% as consumer demand slows down: Report

The consumer segment shipped 2.1 million units with online sales helping in picking up momentum at the end of September

Online cosmetics retailer Nykaa's Q2 net more than doubles to Rs 5.2 cr

Revenue for the quarter was up 39% YoY to Rs 1,230.8 crore

P&G India set up Rs 200-cr 'Technovate Fund' to solve business challenges

The firm has also committed to spend more than Rs 1,300 crore in business solutions through its 'vGrow' platform

Rural demand in India to rebound due to multiple factors: Morgan Stanley

A combination of factors like wider opening, improving labour market and terms of trade for the rural sector will result in rural demand to rebound in India, said Morgan Stanley on Wednesday

India Inc hesitant to invest as doubts remain on demand recovery: Analysts

They say high commodity prices, geopolitical uncertainty, and uneven consumer demand may have prompted firms to defer capex plans

China's export growth sinks in August; imports shrink due to dip in demand

China's export growth weakened in August and imports shrank as high energy prices, inflation and anti-virus restrictions weighed on global and Chinese consumer demand. Exports rose 7% over a year ago to USD 314.9 billion, barely one-third of July's 18% expansion, customs data showed Wednesday. Imports contracted by 0.2% to USD 235.5 billion, compared with the previous month's already weak 2.3% growth. Demand for Chinese exports has softened as economic activity in Western markets slowed and the Federal Reserve and central banks in Europe and Asia raise interest rates to cool surging inflation. At home, repeated closures of cities to fight virus outbreaks has weighed on consumer spending. The slowdown in China's export sector is adding to headwinds for the Chinese economy, said Rajiv Biswas of S&P Global Market Intelligence in a report. Lack of import growth highlights continued weakness of Chinese domestic demand. Growth in the world's second-largest economy fell to 2.5% in the ...

PM Modi asks states to clear payments to electricity distributors

Prime Minister Narendra Modi on Saturday urged state governments to clear their bills and dues to power distribution firms to help ensure stability in the energy sector

Wipro Consumer to withdraw sanitisers from market as demand decreases

The company may also withdraw some variants of other categories that were launched during the pandemic, said Vineet Agarwal, chief executive officer of Wipro Consumer Care