Mangalam Worldwide profit jumps 68 pc, revenue by 21pc in June quarter
Total income of the company rose by more than 21 per cent to Rs 279.41 crore in the first quarter of FY2025-26 against Rs 230.21 crore in the year-ago period, the company said in a statement.
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Time of India
3 minutes ago
- Time of India
D2C brands' festive scramble; UPI's consent hurdle
Next D2C brands' festive scramble; UPI's consent hurdle Want this newsletter delivered to your inbox? Also in the letter: New-age brands scramble for online marketplaces to capitalise on festive cheer Yes, but: Zoom out: There's more: New advertising formats, including banners at the payment point, are designed to encourage impulse purchases of chocolates, snacks, and other low-cost items, very similar to the checkout and payment zones seen in supermarkets. Campaign packages that nudge brands to expand their spending across multiple festive months. Also Read: Payment majors, NPCI press for data protection compliance breather Tell me more: What they're asking for: A temporary exemption to refine systems and create compliant alternatives without disrupting users. Flexibility to avoid a flood of prompts that could discourage routine transactions like bill payments. Zooming out: Also Read: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Fibe eyes $35 million fundraise from World Bank Group arm Tell me more: Funding history: Also Read: Jeh Aerospace nets $11 million in fresh round More details: Ather Energy Q1 revenue jumps 79%, even as rare earth magnet crunch looms By the numbers: Net loss narrowed slightly to Rs 178.2 crore from Rs 182.9 crore a year earlier. Scooters sold at 46,078 units, up from 23,426 last year. Total expenses rose 54.3% YoY to Rs 851.1 crore. Adjusted gross margin improved to 23% from 19% in Q1 FY25. Ninety-five new stores have been added, increasing the total to 446. Supply chain concern: Stock movement: Market share: Edtech unicorn Lead Group bridges losses by 69% Keeping Count Other Top Stories By Our Reporters Mid-tier India IT outpaces bellwethers: IndiaAI report 2.0 on the anvil: Global Picks We Are Reading Emerging direct-to-consumer brands are competing for the festive spotlight on busy online storefronts. This and more in today's ETtech Morning Dispatch.■ ETtech Done Deals■ Ather bridges losses in Q1■ Mid-tier IT logs double-digit growthHundreds of emerging direct-to-consumer (D2C) brands are racing to secure space on ecommerce and quick commerce platforms , betting on an early festive rush to lift rates on quick commerce apps have jumped 40–50% in key festive categories, forcing brands to outbid rivals for prime visibility on home screens and search executives say Blinkit, Zepto, and Instamart together pulled in over Rs 3,000 crore in ad revenues in FY25. For these platforms, ads deliver a higher-margin rupee than product sales, and the festive season is the most lucrative squeeze more from this surge, platforms are pushing:India's top payment platforms, including Google Pay and PhonePe, along with Unified Payments Interface (UPI) operator National Payments Corporation of India (NPCI), have urged the IT ministry to delay the strict consent provisions under the Digital Personal Data Protection (DPDP) Act, 2023. The rules currently require users to approve every single data transfer, even for routine or recurring government's intent is clear: every payment prompt equals stronger security. But platforms argue that asking for consent at each step will choke convenience, add costs, and make digital payments clunky. Smaller players, they say, will bear the DPDP Act carries steep penalties for non-compliance. Companies fear that the cost of rapid compliance will inevitably find its way to the consumer, sources told us. For now, the sector is hoping for a middle path that protects privacy without breaking the frictionless flow of India's digital payments Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship Mehrotra (left) and Ashish Goyal, cofounders, FibeDigital lending startup Fibe plans to raise $35 million in a new funding round led by the International Finance Corporation (IFC), the impact investing arm of the World Bank Group, two sources familiar with the matter told Fibe has also reached out to existing investors to participate in this round, the sources added. Eight Road Ventures, Norwest Venture Partners, and the alternative asset investor TPG have previously invested in the has raised approximately $228 million so far. Its most recent round in June 2024 brought in $90 million , valuing the company at $580 Mudragalla (left) and Vishal Sanghavi, cofounders, Jeh AerospaceAerospace manufacturing startup Jeh Aerospace has raised $11 million in a funding round led by Elevation Capital, with participation from existing investors like San Francisco-based General Atlanta-headquartered startup, founded in 2022, specialises in manufacturing high-precision flight-critical components, tooling, assemblies, and part supply solutions for global aerospace original equipment manufacturers (OEMs) as well as tier-I and tier-II suppliers. It caters to various aerospace and defence Mehta, CEO, Ather EnergyElectric two-wheeler manufacturer Ather Energy reported a 79% year-on-year increase in operating revenue to Rs 644.6 crore, with a marginal reduction in net loss for the quarter ending Tarun Mehta highlighted a possible short-term disruption in Q2 due to China's export restrictions on rare earth magnets. "In the short term, which is this quarter, there could be an impact of about a week or so in terms of potential business impact,' he said during the earnings of Ather Energy soared by as much as 20% to a record high of Rs 416.70 on the BSE on Monday, before closing nearly 15% higher at Rs is currently India's fourth-largest electric two-wheeler manufacturer, with a 16.3% market share in July, selling 16,251 units. It ranks behind TVS Motor, Bajaj Auto, and Ola Electric.(L-R), Sumeet Mehta, Smita Deorah, cofounders, LeadLead Group, which provides digital learning solutions to schools, managed to reduce its losses significantly by 69% during the fiscal year ending March 2025, even though operational revenue remained steady at Rs 351 crore. Better school retention, lower customer acquisition costs, and AI-driven operational efficiencies drove the bottom-line of the mid-tier Indian IT companies reported an average 20% revenue growth annually, surpassing the five top-tier firms , which recorded flat to single-digit growth rates, averaging a 1.5% increase, according to data from their April to June quarter losses due to AI, re-skilling the tech workforce, raising compute power, and addressing geopolitical challenges are expected to be some of the main talking points in the second edition of the IndiaAI report , government officials told ET.■ At Big Tech, cloud revenue growth is catching up to capex ( The Information ■ The AI job cuts are accelerating ( FT ■ The Gulf's trillion-dollar AI dream has a water problem ( Rest of World
Time of India
3 minutes ago
- Time of India
globus spirits: Globus Spirits in Bullish Zone Post Breakout; RSI, Volumes Support Rally, recommends Rajesh Palviya - The Economic Times Video
'Globus Spirits is showing strong upward momentum after a prolonged period of consolidation and successive higher lows. Traders can buy for a target of Rs 1450-1500 in the next few months,' Rajesh Palviya, SVP - Research, Axis Securities, said.
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First Post
3 minutes ago
- First Post
Trump's threats unlikely to break India-Russia ties: NSA Doval visits Moscow today
Despite sharp warnings and tariff threats from Trump, India appears determined to maintain its strong strategic partnership with Russia. National Security Advisor Ajit Doval's visit to Moscow on Tuesday aims to reinforce ties amid rising pressure from Washington. read more NSA Ajit Doval has a storied career. In his days at the Intelligence Bureau, he's been known to go undercover, with various disguises. File image/PTI US President Donald Trump's threats of steep tariffs and pressure over India's trade with Russia are unlikely to disrupt the enduring strategic partnership between New Delhi and Moscow. National Security Advisor Ajit Doval is scheduled to visit Moscow on Tuesday (August 5) to reinforce bilateral ties amid growing pressure from Washington, The Times of India reported. 'We will act in the best interest of Indian consumers and choose the most cost-effective option available. If Russian crude continues to be more affordable than other sources, there's no reason to penalise our citizens,' a senior government official told TOI. STORY CONTINUES BELOW THIS AD The official also indicated that India may seek deeper discounts from Moscow in response to Trump's recent remarks. Doval's visit is expected to offer clarity on India's evolving geopolitical strategy as it navigates a complex energy and security landscape shaped by global supply shifts and strategic realignments. So far, the Centre has shown no intention of scaling back crude oil imports from Russia, which remain significantly cheaper than supplies from West Asia or the United States. This policy has helped keep domestic fuel prices in check while also benefiting European nations that continue to depend on Indian exports of diesel and aviation fuel, sources said. Jaishankar's trip also lined up External Affairs Minister S Jaishankar is also expected to visit Moscow later this month, The Economic Times reported, with his trip likely to take place around mid-August. These high-level engagements come in the wake of sharp criticism from Donald Trump, who labelled India and Russia as 'dead economies' and announced a 25 per cent tariff on Indian goods, along with penalties for countries maintaining strategic trade ties with Moscow. Senior Indian officials clarified that the proposed measures are aimed at India's deepening energy and defence cooperation with Russia. Since the onset of the Ukraine war, Russian crude oil's share in India's overall imports has surged from just 0.2 per cent to nearly 40 per cent, making India Russia's second-largest oil buyer after China. STORY CONTINUES BELOW THIS AD
