E-commerce platform Flipkart's logistics arm reported a more than five times surge in its net losses to Rs 1,718.4 crore last fiscal (FY24), compared to Rs 324.6 crore in the previous fiscal (FY23).
Instakart Services, which operates Ekart Logistics, also clocked a 5 per cent revenue decline at Rs 12,115.3 crore in FY24, compared to Rs 12,787.4 crore in the year-ago period.
The expenses rose by over 6 per cent to Rs 14,149.4 crore from Rs 13,325 crore. Total income narrowed b...
Flipkart`s logistics arm Ekart sees 5-fold surge in net loss at Rs 1,718 crore in FY24
After sluggish sales in the first five months of this fiscal, automobiles and consumer electronics companies saw some surge in demand due to discounts and promotional offers during the ongoing Ganesh Chaturthi and Onam festivals, multiple reports said.
"In view of festivals like Onam, Navratri, Diwali, and Dussehra, electronics, automobile and smartphone companies are offering discounts of up to 30 percent to customers," the reports stated.
Maruti Suzuki reported a 10 pe...
Car, bikes, and electronics sale surge due to heavy discounts by companies
As India approaches the festive season, demand for seasonal jobs is rising not only in metros but also from tier 2 and 3 cities as well, according to a new report.
Data from Indeed, the global matching and hiring platform, indicates a projected 20 per cent increase in seasonal jobs compared to last year.
In metros like Mumbai, Bengaluru, Chennai, Delhi and Kolkata, there is an 18-20 per cent increase compared to the previous year.
Meanwhile, tier 2 and 3 cities such as Nagpur, ...
Seasonal hiring soars in tier 2 and 3 cities ahead of India festive season
