Latest news with #FrancisMascarenhas
The Star
2 days ago
- Business
- The Star
Indian fintech firm Paytm swings to profit, expects further boost
FILE PHOTO: A man stands at the Paytm stall during the Global Fintech Fest in Mumbai, India, August 29, 2024. REUTERS/Francis Mascarenhas/File photo (Reuters) -Indian fintech firm Paytm swung to a profit for the first time since September 2024, driven by robust growth in its lending business and tight cost controls, and said it expects a further improvement in earnings. The company posted a net profit of 1.23 billion rupees ($14.24 million) for the quarter ended June 30. It had last posted a profit in the September 2024 quarter due to a one-time gain from the sale of its ticketing business. The firm had posted a loss of 8.39 billion rupees in April-June a year earlier after the central bank ordered a shut down of its banking unit in January 2024. Since then, Paytm has increased its focus on core businesses and cut expenses and had projected a profit for the June quarter, when its revenue rose 28% to 19.18 billion rupees. Revenue from financial services, which includes the loan business, doubled year-on-year and that from payment services climbed 18%. Analysts said that Paytm logged strong growth in the merchant lending segments even as growth in personal loans stayed weak amid tightening of credit in the segment. "For personal loans, based on the current trends, there are early signs of recovery," Paytm said. Its expenses fell 19% year-on-year to 20.16 billion rupees during the quarter. Earnings before interest, taxes, depreciation, and amortization before the cost of employee stock options, a key metric, stood at 1.02 billion rupees. Paytm's shares rose 3.3% to a seven-month high before the results. ($1 = 86.3470 Indian rupees) (Reporting by Nishit Navin; Editing by Mrigank Dhaniwala)
The Star
6 days ago
- Business
- The Star
Netflix shares drop as revenue forecast leaves investors unimpressed
FILE PHOTO: A man stands next to a logo of Netflix during an event in Mumbai, India, February 29, 2024. REUTERS/Francis Mascarenhas/File Photo (Reuters) -Netflix shares declined more than 5% in early trading on Friday, as investors were disappointed by the streaming giant's revenue forecast raise being driven by a weaker dollar instead of strong customer demand. The stock has nearly doubled in value in the last 12 months, pushing Netflix's market value above $540 billion, more than the combined worth of Disney, Comcast, and Warner Bros. Discovery. The streaming platform on Thursday raised its 2025 revenue outlook and expects to be in the range of $44.8 billion to $45.2 billion, broadly helped by a weaker dollar, compared to its previous forecast range of $43.5 billion to $44.5 billion. "Better-than-expected quarterly results and upgraded full-year revenue and cash flow guidance weren't enough to keep investors happy," said Dan Coatsworth, investment analyst at AJ Bell. Investors were disappointed because the improved revenue outlook was driven by foreign exchange factors rather than stronger customer demand, Coatsworth said. Disappointment over the forecast overshadowed a quarterly profit beat that was fueled by the success of the final season of 'Squid Game'. Netflix shares, which have gained about 43% so far this year, currently trade at 43.8 times the estimates of its earnings for the next 12 months, compared with Disney's 19.57 and Comcast's 7.71."The muted response to Netflix's share price... may be down to its lofty valuation," said Kathleen Brooks, research director at XTB. With subscriber growth slowing after the pandemic-era surge, Netflix has shifted its focus to ramping up advertising revenue to reshape its business model. The company is expanding its ad-supported tiers, implementing targeted ad placements, and working on live sports events to attract advertisers. "As Netflix ramps up its advertising revenues combined with underlying strength in the core business, we see a strong runway to drive higher monetization of its engagement," analysts at MoffettNathanson said. At least 16 analysts raised their price targets on the stock following results, bringing the median target to $1,365, as per data complied by LSEG. (Reporting by Joel Jose and Siddarth S in Bengaluru; Editing by Leroy Leo)
The Star
17-07-2025
- Business
- The Star
Amazon.com defeats lawsuit by Prime Video subscribers over commercials
FILE PHOTO: Media are seen in front of an Amazon Prime Video logo during an Amazon Prime Video India launch event in Mumbai, India, April 28, 2022. REUTERS/Francis Mascarenhas/ File Photo (Reuters) -A federal judge on Wednesday dismissed a proposed class action over decision to begin showing commercials on its Prime Video service unless subscribers paid a $2.99 monthly opt-out fee. Subscribers who paid $139 a year for Prime Video said Amazon had led them to believe the service would remain ad-free. They said the ads amounted to a price increase that breached their subscriber agreements and violated Washington state consumer protection laws. U.S. District Judge Barbara Jacobs Rothstein in Seattle concluded, however, that the ads were a "benefit modification" specifically contemplated and authorized by Amazon and the subscribers. The change went into effect in January 2024. Lawyers for the subscribers did not immediately respond to requests for comment. (Reporting by Jonathan Stempel in New York; Editing by Chris Reese)
Hindustan Times
10-07-2025
- Automotive
- Hindustan Times
Tata Curvv EV & Nexon EV 45 kWh now get lifetime battery warranty
The Tata Curvv EV gets the 45 kWh and 55 kWh high-voltage batteries that are now covered under lifetime warrant.y. This also extends to the 45 kWh variants of the Nexon EV Check Offers Tata Motors is now extending its lifetime high-voltage (HV) battery warranty on the Curvv EV and Nexon EV 45 kWh models in its lineup. The automaker introduced the lifetime battery warranty on the all-new Tata Harrier EV, and the latest update will help bring peace of mind to Curvv EV and Nexon EV customers as well. The automaker says the lifetime battery warranty received a positive response on the Harrier EV. Tata Curvv EV Battery Packs Tata Curvv EV comes with two battery pack options - 45 kWh and 55 kWh. The former offers a range of 430 km (MIDC) on a single charge, while the latter promises 502 km (MIDC) on a full charge. Tata's real-world range estimate (C75) stands at 330-350 (45 kWh) and 400-425 (55 kWh). Also Read : Tata Harrier EV secures 10,000 bookings on the first day, production commences The battery warranty will be applicable for first-time buyers as well as current owners (first registered buyers) of the electric SUVs Tata Nexon EV 45 kWh Battery Packs The Tata Nexon EV is now available with the 30 kWh and 45 kWh battery packs. The lifetime warranty is only available on the latter. The 45 kWh variant offers a range of 489 km (MIDC) on a single charge, with the automaker's estimated real-world range (C75) promising 350-375 km. Meanwhile, the Nexon EV 30 kWh variant comes with an 8-year/160,000 km warranty (whichever comes first), offering a range of 275 km (as per MIDC), with a real-world claim (C75) between 210-230 km. Speaking about the new initiative, Vivek Srivatsa, Chief Commercial Officer, Tata Passenger Electric Mobility Ltd., said, 'By democratising premium EV technology, we have played a significant role in advancing India's EV category's exponential growth. One of the key factors behind this growth is the ability to instil confidence amongst customers for a worry-free ownership experience. Today, we are proud to extend this feeling even further with the introduction of the Lifetime HV Battery Warranty solution for all customers of the and 45 kWh. By offering this unprecedented assurance, we are enabling a truly carefree, future-ready ownership journey for every buyer." Tata Motors introduced a lifetime battery warranty on the newly launched Harrier EV, and has now extended the same to its other electric SUVs (REUTERS/Francis Mascarenhas) Tata's Lifetime Battery Warranty Benefits The lifetime battery warranty extends to the life of the vehicle, which is 15 years, and applies to all private customers of the Curvv EV and Nexon EV 45 kWh. The battery warranty will be applicable for first-time buyers as well as current owners (first registered buyers) of the electric SUVs. Tata says the move will also help improve the resale value of both EVs, while ensuring significant savings in running costs estimated at ₹ 8-9 lakh over 10 years. Tata Motors is also offering benefits worth ₹ 50,000 on the Curvv EV and Nexon EV 45 kWh models, as part of an exclusive loyalty program for existing Tata EV owners. Check out Upcoming EV Cars in India. First Published Date: 10 Jul 2025, 15:36 pm IST
The Star
08-07-2025
- Business
- The Star
Meta takes around 3% stake in Ray-Ban-parent EssilorLuxottica, source says
FILE PHOTO: People walk behind a logo of Meta Platforms company, during a conference in Mumbai, India, September 20, 2023. REUTERS/Francis Mascarenhas/ File Photo (Reuters) -Meta Platforms has acquired a nearly 3% stake in eyewear maker EssilorLuxottica, a source told Reuters on Tuesday, amid growing consumer interest in AI-powered wearable devices. Sprucing up its wearable technology with artificial-intelligence capabilities could help Meta attract new users as it invests billions of dollars in bolstering its AI infrastructure. EssilorLuxottica declined to comment, while Meta did not immediately respond when contacted by Reuters. Meta bought a stake worth around 3 billion euros ($3.52 billion) in EssilorLuxottica at the current market price and is considering further investments that could build its share to around 5% over time, according to Bloomberg News, which reported the development earlier in the day. The social media giant teamed up with Oakley to release AI-powered smart glasses last month, expanding its push into wearable tech after the success of Ray-Ban Meta glasses, millions of which have been sold since their launch in 2023. The "Oakley Meta HSTN" will feature a hands-free high-resolution camera, open-ear speakers, water resistance and Meta AI capabilities. EssilorLuxottica planned to boost its production capacity for smart glasses and hopes to expand its collaboration with Meta to other brands, Chief Executive Francesco Milleri had said in February. ($1 = 0.8527 euros) (Reporting by Juby Babu in Mexico City; Editing by Pooja Desai)
