Latest news with #Meesho
Economic Times
a day ago
- Business
- Economic Times
Quess Corp reports 4% rise in profits for June quarter
Business services provider Quess Corp on Monday reported a revenue of Rs 3651 crore, up 2% year-on-year, and a profit after tax (PAT) of 51 crore, up 4% year-on-year, for the June quarter. The company reported an earning per share (EPS) at Rs 3.40 for the ED & Group CEO Guruprasad Srinivasan said they have had a good start to this financial year with increased revenues and an EBITDA (earnings before interest, taxes, depreciation, and amortisation) at Rs 70 crore, up 10% year-on-year. Professional staffing segment posted its best-ever performance, recording double-digit EBITDA margins and maintaining strong revenue growth, led by the GCC segment which contributed 73% of total revenues. In general staffing, despite the challenging macro environment Quess ended the quarter with net additions, the CEO said. 'We are also seeing encouraging festive season demand as we step into the second quarter.' The general staffing segment posted revenue at Rs 3,122 crore with EBITDA at Rs 46 crore, adding 79 new contracts in the quarter. There are over 42,000 open headcount mandates in the second quarter with a strong growth momentum leading up to the festive season, the Bengaluru-headquartered company said in a professional staffing segment posted a stellar performance in tough macro conditions, with revenues of Rs 244 crore and EBITDA at Rs 25 crore, both up by 31% and 48% year-on-year, respectively. GCCs continue to be a significant growth driver which now contributes to 73% of the revenue, the statement overseas business segment posted revenue of Rs 284 crore, with an EBITDA at Rs 18 crore, driven by Middle East and Malaysia, along with additions of 32 new contracts during the quarter. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Will TCS layoffs open the floodgates of mass firing at Indian IT firms? Sebi's settlement with market intermediaries: More mystery than transparency? Indian IT firms never reveal the truth hiding behind 'strong' deal wins Did Meesho's Valmo really deliver a knockout punch to e-commerce logistics? Piaggio sues former employee for 'Coldplay' reference on CEO Apple has a new Indian-American COO. What it needs might be a new CEO. Stock Radar: This pharma stock breaks out from a 9-month long consolidation phase; likely to fresh record highs Understand 'Market Coupling Approved' before reacting to IEX stock price movement and making any decision
Time of India
6 days ago
- Time of India
3,173 parcels of Meesho gutted in suspected business rivalry
Surat: As many as 3,173 parcels of leading e-commerce retailer Meesho were reduced to ashes after eight men allegedly set fire to the stock, in an act suspected to be a fallout of a business rivalry between a courier firm owner and his former employee. While the incident occurred in the early hours of July 20, it was reported to the police by the godown owner Amol Pagar (35), who managed deliveries and pickups for Valmo Courier, a logistics platofrm owned by Meesho. In his complaint lodged at the Udhna police station, Pagar said he strongly suspected that the fire was masterminded by his former boss Krishnakant Yadav, proprietor of AIM Logistics. Till a month ago, Pagar worked with Yadav's firm but quit on a bitter note after a fight over salary. He then started a new company RB Enterprise in Bhathena. After reviewing the CCTV footage of the godown, Pagar identified his former colleague Satyam and four others. He said in the complaint that Yadav had threatened him to prevent the establishment of his new business after he resigned. The gutted parcels, which were mostly goods returned for different reasons by customers, were valued at Rs 14.15 lakh, the complaint states. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Compare Spreads: Bitcoin vs Ethereum CFDs IC Markets Learn More Undo At around 2.30am on Sunday, several people barged into Pagar's firm and set fire to the parcels, along with three computers, printers, and other items. Police first arrested Vishal Chaudhary and Ravi Saroj, involved in this incident. During interrogation, Vishal revealed that he met with a wanted accused Bachhi and Nitin, both former colleagues of Pagar. Bachhi and Nitin then accompanied him and Ravi to near INS Hospital, where another accused, Rajnish, and his friend were waiting. The five decided to torch Pagar's godown. The met convened with Ashish, Dinesh, and Ankit near Millenium Market-4, and the group proceeded to Pagar's firm to carry out the arson as planned, said SN Desai, inspector, Udhna police station. Desai told TOI: "Ravi monitored the surroundings by sitting in a rickshaw, while Nitin maneuvered on his motorcycle. Satyam, Ankit, Ashish, Rajnish, and Dinesh entered the godown, doused fuel on the parcels and set it on fire." "As the victim has suspected Yadav, with whom he worked alongside the accused, we are attempting to contact Yadav. Bachhi and Nitin are the prime accused in this conspiracy. We are ascertaining if they acted on Yadav's instructions, as he had threatened Pagar to hinder his new venture," Desai said.
Time of India
21-07-2025
- Time of India
Karnataka youth duped of Rs 1.23 lakh in work-from-home WhatsApp scam
MANGALURU: A youth from Kundapur taluk was allegedly duped of Rs 1.23 lakh by fraudsters who promised him a work-from-home job through WhatsApp. In a complaint, Prithvi, 24, a resident of Kundapur taluk, stated that on July 18, he received a message on WhatsApp from a person claiming to represent Meesho company, offering a work-from-home job involving product sales. Prithvi was assigned tasks and initially paid Rs 993. After completing four such tasks, Rs 1,500 was credited to his account, which built his trust. Believing the offer to be genuine, he went on to transfer a total of Rs 92,880 in phases from his own bank account. In addition, Rs 20,000 was transferred from the bank account of his aunt's son, and another Rs 10,125 from the account of another cousin. Altogether, the fraudsters allegedly collected Rs 1.23 lakh. A case was registered at Amasbail Police Station, invoking Sections 66(C)(D) of the IT Act and Section 318(4) of the Bharatiya Nyaya Sanhita (BNS).
Time of India
18-07-2025
- Business
- Time of India
41st anniversary of The Times of India, Bengaluru: Large-hearted ooru
By: Atul Satija India's Startup Capital Is Quietly Building Thoughtful Philanthropy When people speak of Bengaluru, they typically discuss startups. A city where every second building houses a team of twenty trying to crack an idea, a prototype, a product market fit It's not just the innovation that stands out, it's the mindset. A certainrestlessness to ask: What's broken? Why does it stay broken? What's the smartest way to fix it? That instinct, this curiosity, I've come to believe, runs through more than just tech. It isn't just building consumer tech or enterprise platforms. You Can Also Check: Bengaluru AQI | Weather in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru It's quietly reshaping something else entirely: the way this city gives. I've spent the last 25 years working across both the corporate and development sectors. And in that time, I've seen a quiet but powerful shift in how philanthropy is thought about and practiced in Bengaluru. One that's less about legacy and more about problem solving. A kind of giving that is as first-principles and design thinking oriented as the startups that made this city famous. When wealth met willingness Bengaluru's philanthropic rise wasn't just a result of intent; it was also about timing. It was the result of new money meeting new questions. Around 2013, as India's startup ecosystem matured, many early founders were seeing wealth for the first time. Azim Premji had already set a benchmark, not just with the scale of his giving, but with the approach: longterm, institution-building philanthropy that worked with the state to strengthen public systems. Nandan and Rohini Nilekani invested in digital public goods- platforms that could serve as foundational layers for water, finance, and governance. Kiran Mazumdar-Shaw focused on strengthening health systems and biotech capacity. These moves weren't just generous; they were thoughtful and design-led. They inspired a newer generation of givers, including Prashanth Prakash of Accel, Nithin and Nikhil Kamath of Zerodha, Vidit Aatrey of Meesho, and many more. There's been a shift in how the newer generations have started seeing philanthropy: not as charity, but as catalytic capital for solving wicked problems. New mindset for philanthropy Bengaluru's philanthropic story is different from that of older Indian cities. In Mumbai, giving is often rooted in legacy- family foundations, inherited wealth, and decades-old institutions. In Delhi, it's more often linked to proximity to the state, policy, and advocacy. Bengaluru's giving culture is newer and in some ways, more experimental. Most of its wealth is first-generation. The volume of giving might not yet stand out. Mumbai still leads there. But it differs in the quality of giving. Many of its donors are engineers, product leaders, or founders who exited their startups and began asking what they could build next, not necessarily for the market, but for the country. They aren't looking to support the next big NGO. They are looking to understand why some programs stick while others don't. They question assumptions, challenge models, and most refreshingly, admit what they don't know. They have the patience, the back-end focus. The willingness to fund the invisible yet crucial layers, organisational tech systems, measurement frameworks, leadership development, that will allow social impact to scale. That humility is part of what defines Bengaluru's philanthropic identity. Along with a quiet appetite for collaborative bets, most Bengaluru funders are comfortable with iteration. They don't expect linear progress or perfect outcomes. They're okay with funding something that may fail, as long as it's trying to solve a root problem. And most critically, there's a bias for listening. I've seen people with enormous capacity sit silently through field reviews, only to ask one sharp question at the end. I've seen high-networth individuals defer to grassroots leaders because they know the latter holds the real insight. This culture, thoughtful, unassuming, and long-term in its lens, is what makes Bengaluru's giving ecosystem not just promising, but instructive. Opening up new opportunities Because of this ecosystem, we're seeing philanthropy move into bold, underfunded areas—supporting rural micro-entrepreneurs, funding nonprofits that work in low-income geographies, investing in tech platforms that serve the public good, and backing public institutions like the Museum of Art & Photography (MAP), the Science Gallery, and the Bangalore International Centre (BIC) that nurture civic imagination, dialogue, and cultural capital. We've seen funders commit to 5–7year partnerships. We've seen government–nonprofit collaboratives flourish because donors were willing to support the back-end functions—capacity building, shared infrastructure, policy research. Karnataka, for instance, was the first state to back the Indian Administrative Fellowship (IAF), a pioneering public–private partnership anchored by The/Nudge, which embeds talent within state systems to drive governance innovation. There's a new appetite for institutional resilience. No longer is it enough for an NGO to deliver services. It must be able to withstand external shocks, retain top talent, and evolve its model, all of which require flexible, long-term capital. That's what philanthropists in Bengaluru are beginning to provide. This is a great turning point that will enable non-profits to move away from survival and become a centre for innovation. But this experiment is still nascent. The road ahead Too little philanthropic capital still reaches women-led or Dalit- and Adivasi-led organisations. Rural changemakers don't always have access to the networks that open doors in urban ecosystems. And while government partnerships are growing, we haven't yet fully cracked how philanthropy can serve as an R&D engine for the state, especially at the last mile. We need to keep widening the circle. Keep investing in collective infrastructure. Keep learning from what's not working. And perhaps most importantly, keep listening. Because the success of this ecosystem won't be measured just in money moved or programs scaled. But in how resilient it becomes, how well it absorbs new voices, adapts to uncertainty, and builds trust at every level. As Bengaluru cements its place as a philanthropic hub, the next challenge is to widen the arc of giving. Karnataka is already India's secondrichest large state by per capita income, and Bengaluru holds a disproportionate share of capital, networks, and institutions. The momentum now needs to extend beyond - towards underserved states, rural geographies, and communities that remain on the margins of this progress.
Time of India
16-07-2025
- Business
- Time of India
Non-certified LED bulbs, Toys, Fans and more seized in raids at Flipkart, Meesho warehouses in Andhra Pradesh; Officials say: Raids were conducted after ...
Representative Image India's Bureau of Indian Standards (BIS) reportedly conducted extensive search and seizure operations at warehouses of e-commerce giants Flipkart and Meesho . According to a report in PTI, quoting official release, the Bureau of Indian Standards (BIS) claims to have seized a large consignment of uncertified consumer products from e-commerce platforms Flipkart, E-Kart, and Meesho. The raids were conducted in Krishna district, Andhra Pradesh. The raids are said to be part of nationwide campaign to curb the platforms "facilitating the sale and distribution of hazardous goods". Manufacture, storage, or sale of uncertified goods is punishable under law. Earlier this year, similar raids were conducted in cities including Lucknow, Gurugram, and Delhi, targeted warehouses of Amazon and Flipkart, as well as facilities of Techvision International Pvt Ltd, said to be a key supplier of these non-certified products. "The BIS Vijayawada Branch Office conducted a major raid on prominent e-commerce platforms -- Flipkart, E-Kart, and Meesho. During the operation, officials seized a large consignment comprising over 25 categories of consumer products," said Prem Sajani Patnala, Director and Head, BIS Vijayawada. He said that the raids were conducted based on actionable intelligence and digital surveillance, after it was found that several e-commerce platforms are enabling the sale of uncertified and potentially hazardous products. Patnala urged consumers to use the BIS Care app to verify certification details and report misuse of BIS marks. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo What products BIS found in raids The seized products reportedly included electronics, LED bulbs, toys, and table fans -- all in violation of Section 17 of the BIS Act, 2016. These items, lacking valid BIS certification, were reportedly being sold in violation of mandatory QCOs and relevant provisions of the BIS Act, posing serious risks to consumer health and safety. Section 17 of the BIS Act prohibits the sale, storage, or display of goods without the standard mark, while Section 29(3) provides for imprisonment of up to three years and fines up to Rs 10 lakh, or up to ten times the value of the seized goods. There are currently over 800 products under BIS Mandatory Certification, all such goods must bear standard marks -- such as ISI, CRS, Hallmark, or relevant system marks—and be sold only by licensed entities. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
