Page 4 - Revenue Collection

Taxing demands

Unrealistic revenue targets will affect business environment

CBDT to hold high-level meeting to review revenue collection of FY23

Move seen as part of department's revenue maximisation exercise

India's fiscal consolidation trend intact; to see strong revenues: Moody's

Moody's Investors Service on Tuesday said the trend of gradual fiscal consolidation remains intact for India and going forward the country will see strong revenue performance and debt stablisation. Moody's Investors Service Senior Vice President Christian de Guzman said India's 'Baa3' sovereign rating balances its strength of relatively high economic growth and weakness of one of the most highly indebted emerging market sovereigns. The country's healthy financial system is reflected in deleveraging by Indian corporates. "We expect that India is going to be the fastest growing G-20 economy next year... (but) high inflation pose a downside risk to India's growth as households and businesses have less purchasing power," Guzman said in a Moody's virtual event 'Sovereign Deep Dive'. Moody's had earlier this month cut India's growth projection for 2022 to 7 per cent, from 7.7 per cent projected earlier. It expects growth to decelerate to 4.8 per cent in 2023 and then to rise to around 6.4

Cumulative stamp duty, registration fee revenue jumps 35% in H1: Report

Cumulative revenue collection from stamp duty and registration fees across 27 states and the Union Territory of J&K rose to Rs 94,800.47 crore in the first half of 2022-23 (H1FY23), logging in a robust 35 per cent on-year growth from Rs 70,100.20 crore in the year-ago period, shows a report. The average monthly revenue collection from these levies rose to Rs 15,800.07 crore in the reporting first half period, up from Rs 11,600.87 crore in H1FY22, according to the data collated by Motilal Oswal Financial Services. Being the largest state in terms of the size of its economy and the sky-high Mumbai property prices, it is not surprising that Maharashtra leads the table with the highest collection of revenue from this head at Rs 18,600 crore which grew 65 per cent from the previous year, the report said, adding this is 20 per cent of the overall stamp duty and registration charges for the country in H1. In the second slot is Uttar Pradesh with Rs 12,300.94 crore in revenue from this ...

Covid-19 China: Consumer revenue will fall this quarter, warns iPhone maker

The company, known also as Foxconn, reported earnings that missed estimates for the third quarter and said revenue growth will be flat for the current three-month period

Uncertainty on revenue growth, margin outlook hits Gland Pharma stock

The injectable manufacturing company expects the margin pressure to persist due to cost pressures and negative operating leverage.

Asian Paints' Q2 net profit rises 33% to Rs 804 cr; revenue up 19%

Asian Paints on Thursday reported 32.83 per cent rise in consolidated net profit at Rs 803.83 crore for the second quarter ended September 30, 2022 driven by robust sales. The company had posted a net profit of Rs 605.17 crore in the same quarter last fiscal year, Asian Paints said in a regulatory filing. Revenue from operations stood at Rs 8,457.57 crore in the quarter under review as compared to Rs 7,096.01 crore in the year-ago period, it added. "The domestic decorative business showed resilience to deliver a double-digit volume growth and healthy value growth despite subdued demand conditions, impacted by the extended monsoon," Asian Paints Managing Director & CEO Amit Syngle said. The home decor business continued to gain traction with focus on lighting, kitchen and bath along with expansion of 'Beautiful Homes Stores' and the home decor implementation arm, 'Beautiful Homes Service' across markets, he added. Syngle further said,"The auto OE (original equipment) business ...

Railways' passenger revenue in April-Oct 8 period up by 92% at Rs 33,476 cr

The railways' passenger revenue in the period between April 1 and October 8 was around Rs 33,476 crore, an increase of 92 per cent over the corresponding period last year, the national transporter said in a statement on Tuesday. The Indian Railways' passenger revenue on originating basis during the April 1-October 8 period last year was Rs 17,394 crore. In the reserved passenger segment, the total approximate number of passengers booked during the period is Rs 42.89 crore as compared to 34.56 crore during the same period last year, showing an increase of 24 per cent, it said. The revenue generated from reserved passenger segment during the period from April 1 to October 8, 2022 is Rs 26,961 crore as compared to Rs 16,307 crore during the same period last year, showing an increase of 65 per cent. In the unreserved passenger segment, the total approximate number of passengers booked during the period is Rs 268.56 crore as compared to Rs 90.57 crore during the same period last year, .

FMCG companies may see price hike-led revenue growth In July-September

Volumes to remain under pressure due to grammage reductions

AP's revenue collection around Rs 26,000 cr in first half of 2022-23: CMO

Andhra Pradesh government's revenue has touched Rs 25,928 crore in the first half of financial year 2022-23, the Chief Minister's Office said. This was 94.47 per cent of the targeted Rs 27,445 crore for the first half of the year, the CMO said in a release on Thursday, citing officials who took part in a review by Chief Minister Y S Jagan Mohan Reddy on revenue earning departments. The release said Goods and Services Tax (GST) collection in the state was 28.79 per cent in the April-September period as against the national average of 27.8 per cent. It also quoted the officials as informing the Chief Minister that the state's revenue was "on track" and that they were taking steps to "plug the leaks". A couple of days ago, the Comptroller and Auditor General of India (CAG) released the state accounts for the first five months of 2022-23, putting AP's tax revenue at Rs 43,499.73 crore. This was Rs 6,448.94 crore excess as compared to the first five months in the previous fiscal. Betw

Retail chain D-Mart's Q2 revenue jumps 35.7% to Rs 10,384.66 crore

Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, has reported a 35.75 per cent rise in standalone revenue from operations to Rs 10,384.66 crore for the second quarter of the current fiscal. The company had revenue from operations of Rs 7,649.64 crore in the year-ago period, according to a regulatory filing. "Standalone revenue from operations for the quarter ended September 30, 2022, stood at Rs 10,384.66 crore," it said in the regulatory filing on Monday. It had a total of 302 stores at the end of September. In the July-September quarter of FY 2020-21, Avenue Supermarts' standalone revenue was at Rs 5,218.15 crore. It was at Rs 5,949 crore in the pre-pandemic July-September quarter of FY 2019-20. Promoted by Radhakishan Damani and his family, DMart retails basic home and personal products across various states including Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana and Tamil Nadu.

Sula Vineyards eyes double-digit revenue growth in next five years

The company has filed its draft prospectus with Sebi and is awaiting approval for its IPO

Sula Vineyards eyes double-digit revenue growth in next five years

The company has filed its draft prospectus with Sebi and is awaiting approval for its IPO

Mother Dairy expecting 20% revenue growth in FY23 to Rs 15,000 cr

Delhi-NCR's leading milk supplier Mother Dairy is expecting 20 per cent growth in turnover this fiscal year to about Rs 15,000 crore on better demand for products, its MD Manish Bandlish said. The turnover of Mother Dairy, which also sells edible oils and fruits & vegetables, stood at Rs 12,500 crore in last fiscal year. "We are expecting 20 per cent growth this fiscal year in our turnover to reach around Rs 15,000 crore," Mother Dairy Fruits and Vegetables Pvt Ltd MD Manish Bandlish told PTI on the sidelines of IDF-World Dairy Summit held last week at Greater Noida. He said growth would be driven by both increase in volumes and values of its various dairy products. "We are witnessing strong demand for all our milk and other dairy products. Ice cream sales have grown significantly during summer," Bandlish noted. Ice cream sales were adversely affected during summers of 2020 and 2021 because of the pandemic-induced lockdowns. Last month, Mother Dairy increased milk prices by Rs 2

With a loss of Rs 4,588 crore, Byju's FY21 report card has many red marks

The FY21 revenue figure of Rs 2,428 cr is similar to the revenue figure of Rs 2,434 cr in the previous year, though the difference is that the bottom line in 2019-20 showed a profit of Rs 51 cr

'Consumer durables sector revenue to rise 15-18% to cross Rs 1 trn in FY23'

Despite increasing margin pressure, the consumer durables sector is likely to witness a double-digit volume growth, pushing its revenue up by 15-18 per cent to Rs 1 lakh crore this fiscal, according to a report. According to the report, a 10-13 per cent spike in demand/volume, which will be driven by both urban and rural segments -- led mostly by the AC and refrigerator segments, though rural demand will come into play in the second half of the fiscal. The industry had crossed the pre-pandemic mark in value terms last fiscal, and this fiscal, it will scale past the pre-pandemic volume mark by 3 per cent, a Crisil report said on Wednesday. The Crisil report said a 10-13 per cent spike in volume will boost the top-line of the sector by 15 to 18 per cent this fiscal, taking past the size of the durables industry to over Rs 1 lakh crore, which will be 3 per cent above the pre-pandemic size. However, margins are under pressure given the run-away commodity prices of inputs like copper, .

Would surpass Rs 21,000-crore revenue target by 2026: ABFRL chairman

Aditya Birla Fashion and Retail Ltd (ABFRL) is confident of fortifying its market position further and surpassing the projected revenue of Rs 21,000 crore by 2026, said its chairman Kumar Mangalam Birla on Monday. ABFRL is leveraging technology and its execution excellence to build a strong, profitable and future-ready brand portfolio, Birla told shareholders at the 15th annual general meeting of the company. "We had projected a revenue of Rs 21,000 crore for the year 2026 during our annual investor day held in March 2021. I am very confident that we will be able to surpass that target and set even higher milestones for the business going forward," he said. For the financial year ended on March 31, 2022, ABFRL's revenue stood at Rs 8,136 crore, recording a growth of 55 per cent. "The strong revenue recovery resulted in improved profitability over the previous year. Several initiatives encompassing cost management, supply chain optimisation and smart procurement were taken up by the

Hit on revenues from alcohol to dent Delhi govt's revenue balance

The projected revenue from alcohol estimated at the time of presenting the Budget constituted around 20 per cent of the state's expected own tax revenue and 15 per cent of its total receipts.

States' revenue growth to slide to 9% despite robust GST collections: Study

States' revenue growth will slide to 7-9 per cent in FY23 even as handsome GST collections will help in the accretion, a report said on Wednesday. The revenue growth had galloped 25 per cent in FY22 courtesy a lower base in the pandemic-affected FY21, the report by rating agency Crisil, which analysed 17 states accounting for 90 per cent of the aggregate GSDP, said. In FY23, healthy tax buoyancy will be supporting the revenue growth, with Goods and Services Tax (GST) collections and devolutions from the Centre -- which together comprise up to 45 per cent of the states' revenue -- expected to show robust double-digit growth, it said. The agency's senior director Anuj Sethi said the biggest impetus to the revenue growth will come from aggregate state GST collections, which had already rebounded by 29 per cent in FY22. "We expect this momentum to sustain and collections to further increase 20 per cent this fiscal, supported by better compliance levels, higher inflationary environment

IT industry's 'people' conundrum may delay its revenue growth targets

The current talent crisis may delay the industry's efforts to move up the value chain by delinking headcount and revenue streams