Cosmo Films reports 45.30% increase in net profit at Rs 108 crore in Q4

 

Cosmo Films has revealed an increment of 45.30 percent in united net benefit at Rs 108.18 crore for the final quarter finished March 2022, helped by higher deals and better working edges.

The organization had posted a merged net benefit of Rs 74.45 crore for January-March period a year prior, Cosmo Films said in a BSE documenting.

Income from tasks was at Rs 820.88 crore as against Rs 671.80 crore in the year-prior period.

"The Q4FY22 EBITDA has expanded by 31% on the rear of higher speciality deals, better working edges and increase execution by auxiliaries. Upgraded EBITDA along with lower compelling duty rate prompted expanding in PAT by 45%," said a procuring articulation from Cosmo Films.

Publicizing

All out costs were higher 20.77 percent at Rs 705.46 crore as against Rs 584.13 crore.

For the monetary year finished March 2022, Cosmo Films' solidified net benefit was up 67.41 percent at Rs 396.61 crore. It logged a net benefit of Rs 236.90 crore in 2020-21.

Income from activity was at Rs 3,038.39 crore in 2021-22. This was 32.96 percent higher than Rs 2,285.18 crore in the earlier year....KNOW MORE

Maruti introduces new hygiene norms for dealerships amid Covid-19 pandemic

The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday said it has put in place a comprehensive standard operating procedure (SoP) for its dealerships across the country amid Covid-19 pandemic.

The process ensures highest level of hygiene and sanitisation across all its showrooms for the safety of its customers and employees, MSI said in a statement. The Covid-19 SoP designed by the company encapsulates all the facets of customer interactions, MSI said.

From the time a customer walks into the showroom till the final delivery of the vehicle, all processes have been scientifically studied, it added.

After the implementation of these SoPs, and based on approvals from state governments, company dealerships have started to open and deliver the cars to waiting customers, it added.

"All our dealerships have put in place steps to ensure complete safety, hygiene and sanitisation of all touchpoints," MSI Managing Director and CEO Kenichi Ayukawa said.

The auto major said it now offers the door-step delivery of cars. Besides, the dealerships will carry out complete sterilisation of the test-drive vehicles, it added.

MSI currently has around 3,080 dealerships across 1,960 cities and towns in the country.

Covid-19 crisis: SBI to disburse Rs 700 cr to MSMEs in Mumbai by June

State Bank of India (SBI), the country's largest lender, has set a target of disbursing Rs 700 crore to MSMEs in the Mumbai circle by the end of June, to help them tide over liquidity crisis due to the Covid-19 lockdown.
Among all banks, SBI controls a market share of 22 per cent in the MSME lending.
"SBI will boost flow of credit to MSMEs (micro, small and medium enterprises) in this challenging period by reassessing their working capital limit and also by extending Covid-19 emergency loans.
"Overall, we expect to lend Rs 700 crore to MSMEs in four districts of Mumbai circle — Mumbai, Thane, Palghar and Raigad — by the end of June," the World Trade Centre said in a statement quoting Suresh Nair, deputy general manager (SMEs and financial inclusion) at SBI, as saying after a webinar.
Nair expressed hope that the pandemic will not lead to a sudden spurt in bad loans as the Reserve Bank of India has provided moratorium on all loan repayments.
"The impact of the crisis on NPAs (non-performing assets) will become clear after August depending on the evolving situation," Nair said.

Though SBI has provided sanction letter for additional loan facility to 67 per cent of all eligible borrowers, only 50 per cent of them could avail of the facility due to practical difficulties in executing documentation, he said.

Bombay Shaving Company raises Rs 45 crore in Series B funding round

Election News
Men’s skincare brand Bombay Shaving Company (BSC) has raised Rs 45 crore in Series B funding round led by Sixth Sense Venture Partners. Existing investor Colgate Palmolive Asia Pacific, a subsidiary of consumer goods giant Colgate-Palmolive, participated in the round too.BSC said it has also created Rs 20 crore worth of exit opportunities for 30 angels and early employees. This fundraising has taken the total capital raised by BSC to Rs 80 crore.
“We are thrilled to have Sixth Sense join this journey. They are a top consumer fund with insight into public markets, which is invaluable for us,” said Shantanu Deshpande, founder, and CEO at Bombay Shaving Company. “We don’t believe in large fund infusions, however, exits for angels and early employees is an extremely positive outcome. Wealth creation is what drives us.”
Launched in 2016, BSC started as a direct-to-consumer premium experiential shaving regimen, but has quickly expanded into skin, beard and bath categories. The firm, which also sells its products on e-commerce platform Amazon, has a portfolio of over 45 SKUs (stock-keeping units) across shaving, bath and body, skin, and beard care categories.
The firm plans to use the newly-raised funds in brand building, expand its presence in the larger skincare category and penetrate deeper in shaving. As an omnichannel brand, BSC said it will focus on offline expansion with its current footprint of 3,000 stores to 10,000 stores in the coming months. BSC currently has more than 2.5 lakh customers and aims to become Rs 100-crore brand in the next 12-15 months.

"BSC team has impressed us with the portfolio, brand building, understanding of consumer and digital expertise," said Nikhil Vora, founder at Sixth Sense Venture Partners. “We love to invest in spaces where we believe we can grow with the sponsors for a long period....Read More

Flipkart India's most preferred workplace; Amazon, Oyo come next: LinkedIn

Company News

Walmart-owned Flipkart is the most preferred workplace in India, followed by Amazon and Oyo in the second and third places, respectively, according to a list compiled by professional social media network LinkedIn.

Internet companies dominate the top 10 spots in LinkedIn's fourth edition of the '2019 Top Companies' list for India.

IT giant Tata Consultancy Services (TCS) made its debut at the seventh place, new entrants and homegrown internet and consumer services companies Swiggy and Zomato were ranked sixth and eighth, respectively.

Uber, another new entrant, took the fifth spot, while, One97 Communications was at the fourth rank and Oil and Energy conglomerate Reliance Industries was at the 10th place.

Others on the list include consulting firm Boston Consulting Group (BCG) at 13th, Yes Bank (14), IBM (15), Daimler AG (16), Freshworks (17), Accenture (18), Ola (19), ICICI Bank (20), PwC India (21), KPMG India (22), Larsen & Toubro (23), Oracle (24), and Qualcomm (25).

"This year, half the companies are new entrants on the list, including IT giants such as TCS and IBM that showcase the changing job and hiring landscape," said LinkedIn India Managing Editor Adith Charlie.

Charlie further said that "the presence of more blue chip Indian companies such as Larsen & Toubro and Reliance Industries, among others emphasises the fact that these large firms are getting better at attracting millennials employees".


 The report further noted that majority of companies on the list made maximum new hiring for engineering jobs followed by operations and business development.

Mahindra to increase price of vehicles by up to Rs 73,000 from April

Company News

Auto major Mahindra & Mahindra (M&M) Thursday said it will increase the price of its passenger and commercial vehicles by Rs 5,000 to Rs 73,000 from April to partially offset the impact of rising input costs.

The price of the company's vehicles will go up by 0.5 per cent to 2.7 per cent from next month due to the price hike, the company said in a statement.

"This year has seen record high commodity price increases. Further there are regulatory requirements effective April 1 that have also led to cost increases.

While we have made efforts to reduce our costs, it has not been possible to hold back the price increase," M&M President Automotive Sector Rajan Wadhera said in the statement.
Consequently, the company is taking a price increase from April 1, he added.

The company sells various utility vehicles ranging from newly launched compact SUV XUV300 to premium SUV Alturas G4. M&M also sells various commercial vehicles including Supro and Jeeto in the domestic market.

Earlier this week, French car maker Renault had announced increase in price of Kwid range in India by up to 3 per cent from April.

Last week, Tata Motors had also announced increase in price of its passenger vehicles by up to Rs 25,000 from April on account of rising input costs and external economic conditions.

 M&M joins the likes of Toyota and Jaguar Land Rover which have also stated that they would raise price of select models from April.

5 factors that drove Sensex 500 points higher ahead of Interim Budget 2019

Interim Budget 2019:

Markets gained ground on Thursday with the S&P BSE Sensex rallying over 500 points, or around 1.5 per cent, in intra-day deals. On the National Stock Exchange (NSE), the Nifty50 moved up around 1.3 per cent, or 140 points, to hit an intra-day high of 10,813.
Here are five factors driving the markets:

Status quo by the US Federal Reserve: The US Federal Reserve held rates steady at the end of its two-day meeting, which ended Wednesday. The Federal Open Market Committee “will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate,” the central bank said in a statement Wednesday.

“FOMC statement and Powell’s press conference confirm our view that the Fed’s pause is, in reality, the end of the hiking cycle. We expect the Fed’s target range for the federal funds rate to remain unchanged for the remainder of the year, followed by rate cuts in 2020 as the economy starts to slide into a recession," said Philip Marey, senior market strategist at Rabobank International.

Supportive global cues: Asian stocks rose to a four-month high on Thursday after the US Federal Reserve pledged to be patient with further interest rate hikes, signalling a potential end to its tightening cycle amid signs of slowing global growth. MSCI's broadest index of Asia-Pacific shares outside Japan rose to its highest since October, while Japan's Nikkei moved up 1 per cent.


 Interim Budget & fiscal prudence: Finance minister Piyush Goyal will present the Interim Budget 2019 on Friday. Though markets expect the proposals to have a populist undertone ahead of general elections scheduled for April / May 2019, they do not expect the government to sway significantly from the path of fiscal prudence.