Page 3 - Revenue Collection

See huge opportunity to expand in Tier-II, says Marks & Spencer India

Ritesh Mishra, managing director at M&S India, said, "Tier-II cities are of paramount importance to us, as there is still room for growth in Tier-I markets"

Footwear industry to record 11% revenue growth this fiscal: Report

Softening input cost and rising demand will help the footwear industry to record an 11 per cent growth in revenue this fiscal, says a report. Footwear demand is seen clipping at 4 percent this fiscal, Crisil Ratings said in the report Tuesday. Prices of key inputs such as ethylene vinyl acetate, rubber and resins have fallen 30 per cent in the past fiscal. Raw materials constitute around 45 per cent of the total cost of footwear makers. The resultant healthy cash accrual and balance sheets will keep their credit profiles stable, as per the report that is based on an analysis of 43 footwear companies, which account for 15 per cent of the industry revenue of Rs 1 lakh crore. Softening input cost will boost operating margin by about 125 basis points to 9 per cent, which will still be below the pre-pandemic levels of 10 per cent, the report said. Exports, which constitute a fifth of the sectoral revenue, is seen slowing to 12 per cent this fiscal compared to a 25 per cent uptick last

Vodafone Idea Q1 net loss widens to Rs 7,840 cr, revenue up by 2.3%

Debt-ridden telecom operator Vodafone Idea on Monday said its consolidated net loss widened to Rs 7,840 crore in the first quarter ended June 30. The company had posted a net loss of Rs 7,295.7 crore in the same period a year ago. The consolidated revenue from operations during the reported quarter increased marginally by 2.3 per cent to Rs 10,655.5 crore from Rs 10,406.8 crore in June 2022 quarter. VIL's average revenue per user (ARPU) of the company during the June quarter increased to Rs 139 from Rs 128 a year ago.

Easy Trip Planners Q1 profit down 22% to Rs 26 cr, revenue at Rs 124 cr

Online travel service provider Easy Trip Planners Ltd on Monday reported a 21.82 per cent decline in consolidated net profit at Rs 25.9 crore for the June quarter. The company had posted a consolidated net profit of Rs 33.13 crore in the year-ago quarter, Easy Trip Planners, which operates under the brand EaseMyTrip, said in a regulatory filing. Consolidated revenue from operations during the first quarter of the current fiscal stood at Rs 124.05 crore, as against Rs 87.58 crore a year ago, it added. Total expenses were higher at Rs 91.56 crore, as compared to Rs 47 crore in the same period a year ago, the company said.

SJVN net profit declines 55% to Rs 272 cr in Q1 due to lower revenues

State-owned power producer SJVN Ltd on Wednesday reported an over 55 per cent dip in its consolidated net profit to Rs 271.75 crore in the June quarter, mainly due to lower revenues. The company had reported a consolidated net profit of Rs 609.23 crore in the year-ago quarter, the company said in a BSE filing. Total income of the company declined to Rs 744.39 crore in the first quarter of the current fiscal from Rs 1,072.23 crore in the year-ago period.

India Cements Q1 net loss at Rs 73.58 cr, revenue dips 5% to Rs 1,436.74 cr

India Cements Ltd on Monday reported a consolidated net loss of Rs 73.58 crore in the April-June quarter mainly due to reduction in selling price and loss of volume. The company had posted a net profit of Rs 83.83 crore during the April-June quarter a year ago, India Cements Ltd (ICL) said in a regulatory filing. Its revenue from operations fell 5.12 per cent to Rs 1,436.74 crore during the period under review as against Rs 1,514.35 crore in the corresponding quarter of previous fiscal. "The selling price of cement was lower during the quarter under review due to severe competition caused by supply overhang. There was a reduction in variable cost during the quarter on account of softening of fuel prices," ICL said an earnings statement. The reduction in variable costs was offset by the reduction in realisation resulting in lower margins, it added. "The lower margins impacted the liquidity severely resulting in lower volume for the quarter. The overall sales volume almost remained

IndiaMART Q1FY24 results: Net profit up 78%, revenue from ops rises 26%

IndiaMART registered traffic of 254 million and unique business enquiries of 22 million in Q1FY24

Delhi govt sets up GST registration cell to boost revenue collection

The Delhi government has set up a centralised GST registration cell Sewa Kendra to improve the registration process, combat tax evasion and boost revenue, said an official statement on Tuesday. Setting up of the Sewa 'Kendra' marks a significant milestone in the journey towards improving the GST registration process, Delhi Finance Minister Kailash Gahlot said. "Under the able leadership of Chief Minister Arvind Kejriwal, it is a testament to the Delhi government's commitment to promoting transparency, curbing tax evasion and optimising revenue collection," the minister said. The Trade and Taxes Department of the Delhi government has taken a significant step towards improving the GST registration process with the establishment of the centralised GST registration cell. This new initiative aims to streamline the registration process, minimise deemed registrations, and combat tax evasion, thereby safeguarding government revenue, the statement read. The primary objective of the cell is

Indian IT firms to see revenue decelerate by 5%: S&P Global Ratings

S&P Global Ratings rates the three top IT services players: Infosys, HCLTech, and Wipro

Automobile dealership industry revenues to grow by 11-13% in FY24: Icra

Aided by robust sales, revenues of domestic automobile dealership industry are expected to grow by 11-13 per cent in the current fiscal, rating firm Icra said on Thursday. The revenue growth this fiscal will be aided by expected 6-9 per cent volume growth and an increase in vehicle prices during the current financial year, it added. Factors like improving consumer sentiments, as seen through a continued preference for personal mobility and rising disposable income, easing supply-side constraints, better features in the new product models, change in product-mix with increasing skew towards high-priced vehicles, etc., are expected to favourably support the sales growth in the consumer segment, Icra said. In the commercial segment, improving economic activities, rising spends in infrastructure and mining activities, a stable financing environment shall support the growth, it added. Potential headwinds could arise from adverse monsoons or the occurrence of the El Nino and its impact on

Retail chain Shoppers Stop targets double-digit revenue growth in FY24: CEO

Calvin Klein in India, are also doubling down on smaller cities to tap the growing middle class

Indian Railways earns record revenue of Rs 2.40 trillion in 2022-23

Indian Railways earned Rs 63,300 Cr as passenger revenue in 2022-23 as compared to Rs 39,214 crore in 2021-22 which is 61% higher than the last financial year

India Inc's topline growth in Q4FY23 to halve to 10-12%, says report

India Inc is likely to report a halving of revenue growth in the fourth quarter of FY23, a credit rating agency said on Thursday, as companies start reporting their financials. The revenue growth will come down to 10-12 per cent as against 22.8 per cent for the January-March period in the year-ago, Crisil's Market Intelligence and Analytics arm said. For the full fiscal FY23, revenue is estimated to have grown 19-21 per cent, which is slower than over 27 per cent growth registered in FY22, it said, adding that operating margin is likely to have moderated by 3 percentage points. The continuing headwinds to exports which have had an impact on volume growth, and the high-base were cited as the main reasons which will cause the sharp slowdown in topline growth for Q4FY23, Crisil, which analysed 300 companies across 47 sectors to arrive at the expectations, said. It said revenues of commodities and export-oriented sectors such as textiles, gems and jewellery, and information ...

IRB Infra March toll collection revenue grows by 20% to Rs 370 cr

IRB Infrastructure Developers has reported a 20.64 per cent rise in revenues from its toll collection business at Rs 369.9 crore in March 2023. During the same month last year, "the toll revenue from the subsidiaries and joint venture entities of the company was at Rs 306.6 crore," IRB Infrastructure Developers said in a regulatory filing on Monday. On a month-on-month basis, the collection in March was 5.38 per cent higher, as against Rs 351 crore in February 2023. The Mumbai-headquartered company has a major presence in the build-operate-transfer (BOT) space. It is the largest integrated private toll roads and highways infrastructure developer in the country.

Central govt earns Rs 10.25 crore revenue from scrap disposal in Feb

The Centre has earned Rs 10.25 crore revenue by scrap disposal in February, an official statement issued on Tuesday said. In its monthly report on the secretariat reforms for February, the Department of Administrative Reforms and Public Grievances (DARPG) said 1,05,514 files were weeded out and 3,56,533 public grievances against different government departments were disposed. About 1.28 lakh square feet of space was freed in February and Rs 10.25 crore of revenue earned by scrap disposal in February, 2023, the statement issued by the Personnel Ministry said.

IRB Infra toll collection revenue grows 36% to Rs 374.81 cr in Jan

IRB Infrastructure Developers Ltd (IRB) on Friday said its revenue from toll collection grew 36 per cent to Rs 374.81 crore in January 2023. The toll collection stood at Rs 276.44 crore in January 2022, IRB said in a statement. "The consistently robust growth in toll revenue across all our projects over last year reflects economic stability that the country has achieved post-pandemic, and these corridors are playing a vital role in it," Virendra D Mhaiskar, Chairman & Managing Director of IRB Infrastructure Developers said. IRB has a track record of constructing, tolling, operating and maintaining around 15,500 lane km across India. IRB Infrastructure Developers is India's leading and one of the largest integrated infrastructure players in the highways sector.

Recovery of over Rs 7,000 cr revenue arrears pending: CAG to Kerala govt

The Comptroller and General (CAG) of India has found that the Kerala government has failed to collect revenue arrears of Rs 7,100.32 crore, which was outstanding for more than five years and stressed the need for urgent intervention to clear it. The government departments should create a database of outstanding arrears for effective monitoring and follow-up for recovery of arrears, it recommended. The total arrears of Rs 21,797.86 crore amount to 22.33 per cent of the total revenue of the southern state, according to the latest CAG report. "The total arrears of revenue as on 31 March 2021 on certain principal heads of revenue amounted to Rs 21,797.86 crore of which Rs 7,100.32 crore was outstanding for more than five years," it said. The Combined Compliance Audit Report (Revenue Sector), Govt. of Kerala for the period 2019-21 of the Comptroller and Auditor General of India was tabled in the state Assembly on Thursday. "Out of the total arrears, Rs 6,422.49 crore (29.46 per cent)

Budget 2023: Higher crude exploration drives non-tax revenue goal

The government lists receipts from licence fees for the right of exploration of oil and gas, as well as royalty on off-shore crude oil and gas production

Railways posts 73% revenue growth in Apr-Jan 2023 from same period in 2022

The railways' revenue earnings are up by 73 per cent in the passenger segment during April-January 2023 as compared to the same period last year, according to an statement issued by the national transporter. The total approximate earnings in the passenger segment for Indian Railways on originating basis during April to January 2023 is Rs 54,733 crore, registering an increase of 73 per cent in comparison to Rs 31,634 crore achieved during the same period last year, it said. In reserved passenger segment, the total approximate numbers of passengers booked during the period 1st April to 31st January 2023 is 6,590 lakh as compared to 6181 lakhs during the same period last year, showing an increase of 7 per cent. The revenue generated from reserved passenger segment during the period 1st April to 31st January 2023 is Rs 42,945 crore as compared to Rs 29,079 crore during the same period last year, showing an increase of 48 per cent, the statement read. In the unreserved passenger segment

Govt projects 10.5% growth in revenue from taxes to Rs 18.23 trn in FY24

The government on Wednesday projected a 10.5 per cent growth in revenues from corporate and individual income tax to Rs 18.23 lakh crore in the next fiscal. The revised estimates for the current fiscal pegged direct tax revenues at Rs 16.50 lakh crore, higher than the budget estimates of Rs 14.20 lakh crore. In the current fiscal (2022-23), the revenues from direct tax (which includes income and corporate taxes) are projected to grow by over 17 per cent compared to 2021-22 fiscal when the collection was Rs 14.08 lakh crore. In the current fiscal, the revenue from corporate tax is expected to come in at Rs 8.35 lakh crore. This is projected to rise by 10.4 per cent to over Rs 9.22 lakh crore in the next fiscal. Personal income tax collections this fiscal are estimated at Rs 8.15 lakh crore and are projected to rise by 10.4 per cent to over Rs 9 lakh crore next year. Collections from Customs duty are expected to rise by 11 per cent to Rs 2.33 lakh crore, from Rs 2.10 lakh crore in t