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Foxconn to soon announce another Japanese auto partner, chairman says

Foxconn to soon announce another Japanese auto partner, chairman says

Reutersa day ago

TAIPEI, May 29 (Reuters) - Taiwan's Foxconn (2317.TW), opens new tab will soon announce another Japanese auto partner, Chairman Young Liu said on Thursday.
Foxconn subsidiary Foxtron Vehicle Technologies (2258.TW), opens new tab and Japanese automaker Mitsubishi Motors (7211.T), opens new tab this month signed a memorandum of understanding for the supply of an electric vehicle model.

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Indian beauty products retailer Nykaa's profit surges on demand for premium products
Indian beauty products retailer Nykaa's profit surges on demand for premium products

Reuters

timean hour ago

  • Reuters

Indian beauty products retailer Nykaa's profit surges on demand for premium products

May 30 (Reuters) - Indian beauty products retailer Nykaa, on Friday, posted a fourth-quarter profit that nearly tripled year on year as premium brands continued to attract urban consumers. The company, listed as FSN E-Commerce Ventures ( opens new tab, said its consolidated net profit rose to 202.8 million rupees ($2.4 million) in the quarter, from 69.3 million rupees a year ago. Nykaa's total revenue, over 92% of which comes from its beauty products, jumped nearly 24% to 20.62 billion rupees. Sales of beauty products, including from international brands such as Estee Lauder and singer Rihanna's Fenty Beauty, increased 25% to 18.95 billion. The premium segment in India's $28 billion beauty and personal care industry has defied a broader slowdown in urban consumption as upper middle class and richer consumers continued to splurge on discretionary items. Higher sales of premium products helped Nykaa's gross margins expand by 151 basis points to 44.1% in the quarter. The company's net profit also got a boost from total expenses rising 23%, less than total revenue growth, to 20.31 billion rupees. Revenue from Nykaa's fashion apparel business climbed 11% to 1.61 billion rupees in the quarter. ($1 = 85.5300 Indian rupees)

Indian government's FY25 fiscal deficit in line with projection
Indian government's FY25 fiscal deficit in line with projection

Reuters

time2 hours ago

  • Reuters

Indian government's FY25 fiscal deficit in line with projection

MUMBAI, May 30 (Reuters) - India's fiscal deficit (INFISC=ECI), opens new tab for 2024-25 was 4.8% of the gross domestic product (GDP), data released on Friday showed. The fiscal deficit was in line with the government's revised estimate. The Indian government aims to lower the fiscal deficit to 4.4% in the current fiscal year. India's fiscal year runs April through March. For the month of April, the fiscal deficit was 11.9% of the full-year budget estimate. ** Net tax receipts at 30.36 trillion rupees ($354.9 billion) compared with 23.27 trillion rupees in the previous year ** Non-tax revenue at 5.38 trillion rupees compared to 4.02 trillion rupees in the previous year ** Total government expenditure at 46.56 trillion rupees compared to 44.43 trillion rupees in the previous year ** Capital expenditure, or spending on building physical infrastructure, was 10.52 trillion rupees, against 9.49 trillion rupees in the previous year ($1 = 85.5370 Indian rupees)

New single-motor Skoda Enyaq SportLine 85 goes the distance with 356-mile range
New single-motor Skoda Enyaq SportLine 85 goes the distance with 356-mile range

Auto Express

time2 hours ago

  • Auto Express

New single-motor Skoda Enyaq SportLine 85 goes the distance with 356-mile range

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