Page 2 - Revenue Collection

Cognizant Q2 net rises 22% to $566 mn, revises FY24 guidance to $19.5 bn

Cognizant has revised its full-year revenue growth guidance for FY24 from $19.3 billion to $19.5 billion, representing a growth of -0.5% to 1%

Top firms' profit drop led to cut in corporation tax forecast: Revenue secy

In conversation with Shrimi Choudhary, the senior bureaucrat discusses several tax-related announcements in the Union Budget

India becomes third country in revenue per cent growth for Netflix in Q2

Propelled by the popularity of titles such as Heeramandi: The Diamond Bazaar, The Great Indian Kapil Show and Amar Singh Chamkila, India has emerged as the third country in revenue per cent growth for streaming service Netflix in its second quarter. The streamer released its second quarter earnings for 2024 on Thursday and Indian content seems to have made significant strides this year alongside popular international shows such as Bridgerton 3, Baby Reindeer, Korean drama Queen of Tears and films such as Hit Man and Under Paris. India and the UK have had especially strong slates this year, according to the streamer. In Q2, India was the second and third country in terms of paid net adds and revenue per cent growth, respectively due to the success of titles like Sanjay Leela Bhansali's Heeramandi: The Diamond Bazaar, which had 15 million views to become the streamer's biggest Indian drama series ever. Imtiaz Ali-directed biopic Amar Singh Chamkila with 8.3 million views was another

Coal India awards 23 discontinued underground blocks to private miners

State-owned Coal India on Wednesday said it has awarded 23 discontinued underground blocks to private miners through an auction route on revenue sharing model. The cumulative peak rated capacity of these mines is 34.14 million tonnes per year while the total extractable reserves are estimated at 635 MT, the miner said in an exchange filing. "Coal India Limited (CIL) in a bid to tap the latent coal reserves of some of its closed and discontinued underground mines has awarded 23 such mines on revenue sharing model to successful bidders of the private sector," it said. Earlier, CIL had identified a total of 34 discontinued mines where good quality coal reserves are lying dormant but may not be financially viable for CIL to mine them. Hence, the company said it decided to tender and offer these mines to willing private sector players who are prepared to operate and produce the dry fuel and share part of the revenue with the company. "Successful bidder is the one who offers the maximum

Pre-Budget talks: Industry bodies suggest tax reforms to revenue secy

The PHDCCI said that the slab of 30 per cent income tax should be raised to the income of Rs 40 lakh and above. Below this, the body said, the tax rate should be kept at 20-25 per cent

Alcatel-Lucent Enterprise eyes €100 million revenue from India in 3-5 years

Headquartered in Paris, France, ALE has a presence in more than 50 countries globally. In India, the company has around 250 employees

NDMC's revenue collection for FY24 stands at Rs 3,795 cr, exceeds target

The New Delhi Municipal Council's revenues for the 2023-24 financial year exceeded its target, with property tax collection crossing the Rs 1,000-crore mark for the first time in its history, officials said on Wednesday. The New Delhi Municipal Council (NDMC) collected a revenue of Rs 3,795.30 crore from receipt sources such as property tax, licence fees, commercial revenue (water and electricity) and parking fees, it said in a statement. For the first time in the NDMC's history, the revenue from property tax crossed the Rs 1,000-crore mark, it said. "The NDMC has collected Rs 1,025.59 crore in property tax against a target of Rs 1,150 crore. The NDMC had collected property tax revenue of Rs 931.20 crore in 2022-23, Rs 950.75 crore in 2021-22 and Rs 690.78 crore in 2020-21," it added. During the 2023-24 fiscal, the NDMC collected Rs 1,811.71 crore in revenue from electricity and water supply against a target of Rs 1,659.95 crore. It had collected commercial revenue of Rs 1,503 cror

Indian pharma companies bank on 'mother brands' to boost revenue growth

An analysis by market research firm Pharmarack showed how such flagship brands have posted strong growth CAGR in the last five years, with some even doubling sales

Defying trend: Earnings growth no match for rally in CPSU stocks

Valuation rerating largely behind surge in mcap

PepsiCo records mid-single digit organic revenue growth in India in 2023

India posted a double-digit volume growth in the beverages category, while recording a low-single-digit volume decline in the convenient food category

Bharti Airtel Q3 results: Consolidated net profit rises 54% to Rs 2,442 cr

ARPU rises to Rs 208 from Rs 203 in Q2

Average monthly GST collection may touch Rs 1.7 trn in FY25: CBIC chairman

Customs duty collection may go up if global activities improve but targets can be pegged on the basis of trends only, he says

Tinder-parent Match forecasts weak revenue on lower spending on dating apps

It forecast 2024 revenue of between $3.57 billion and $3.67 billion, representing a growth of 6 per cent to 8 per cent compared with an estimate of 7.8 per cent

Wipro sees pressure on revenue growth in Q4; net profit falls 12% in Q3

Margins for the second quarter are likely to be "range-bound" similar to the last few quarters, the management said during a media briefing

Ola's parent ANI Technologies posts Rs 2,800 crore revenue in FY23

The firm also has cut down its losses by nearly 50 per cent to Rs 772 crore during FY23 compared to Rs 1,522 crore in FY22, according to media platform Entrackr

GSP Crop Science eyes Rs 1,800 cr revenue in FY25; 6-7% mkt share in 4 yrs

Agrochemicals manufacturer GSP Crop Science is eyeing Rs 1,800 crore in revenue in 2024-25, following its domestic as well as overseas market expansion, a top company executive has said. "In 2022-23, our annual revenue was at Rs 1,600 crore. We are looking at Rs 1,800 crore revenue in FY25. Overall our target is to reach Rs 2,500 crore in next 3-4 years with the addition of overseas business especially in Brazil," GSP Crop Science Managing Director Bhavesh Shah told PTI. Shah said the company is working towards reducing its dependency on China for raw materials and planning to produce intermediaries needed to develop crop solution products. "In order to reduce our raw material dependency on China, we are planning to gradually produce intermediaries needed for manufacturing our products. We are setting up our third manufacturing unit in Dahej in Gujarat with an investment of Rs 100-110 crores. In this unit we will initially produce 4 intermediaries," he added. The company is focusin

Bihar withholds salaries of mineral dev officers over unmet revenue target

The Bihar government has withheld salaries of several district mineral development officers who have allegedly failed to meet the target of revenue collections in their respective areas in the current financial year so far, officials said on Sunday. The Mines and Geology Department of the state government has sought explanations from such officers in Jehanabad, Gaya, Munger, Jamui and Aurangabad for "failing to meet the target of revenue collections till December 2023 in their respective districts", they said. The department has managed to achieve around 42 per cent of its revenue target of Rs 3,590.66 crore for 2023-24 from the mining sector as it could collect just Rs 1,500 crore till December 2023, a senior official of the department said. "Yes, the department has withheld the salaries of several district mineral development officers who failed to meet the target of revenue collections in their respective areas till December end of the current financial year. "With the revenue .

Black Box eyes 3x growth to $2 bn by 2027 with focus on critical infra

Indian IT company Black Box is expecting a threefold increase in revenue to USD 2 billion over the next three years, driven by demand for critical technological infrastructure. Black Box President and CEO Sanjeev Verma told PTI that focusing on digital infrastructure, connectivity, networking, modern workplace cybersecurity, along with artificial integration, is going to provide a huge runway to the company. "I think we see the future for digital infrastructure business ramping up on the back of hybrid activity on the data centre side, requirement for people to collaborate across continents and cultures, hybrid workplaces that have become a norm post-Covid." "We are looking at double-digit growth organically over the next few years and expect to push towards USD 2 billion (Rs 16,632 crore) revenues in the next three years," Verma said. The company had reported a consolidated revenue of Rs 6,233 crore in FY23, as per a BSE filing. Black Box works with big tech companies like Amazon

UP CM seeks explanations from 12 DMs on negligence in revenue matters

Additional Chief Secretary of the Revenue Board, Sudhir Garg, emphasized that the Chief Minister has placed special importance on the swift resolution of revenue matters

Cars24 reports revenue of Rs 5,535 cr in FY23, 8% increase from FY22

The company reported profit before tax (loss) of Rs 467.8 crore in FY23 compared to Rs 1093.1 crore in FY22