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Profit after tax was marginally up 1.28 per cent at Rs 2,836 crore for the second quarter of the 2024-25 financial year New Delhi: Reliance Retail Venture Ltd (RRVL), the retail arm of billionaire Mukesh Ambani-led Reliance Industries, reported a 3.53 per cent decline in operating revenue to Rs 66,502 crore for the quarter ended in September 2024, impacted by a weak demand and streamlining of operations. Profit after tax was marginally up 1.28 per cent at Rs 2,836 crore for the second quarter of the 2024-25 financial year. The company had reported a revenue of Rs 68,937 crore and and profit after tax of Rs 2,800 crore for the July-September quarter a year ago, according to the regulatory filing of Reliance Industries Ltd (RIL). “Growth impacted by weak Fashion and Lifestyle (F&L) demand, continued focus on streamlining of operations and calibrated approach to B2B business to improve margins,” according to an earning statement from Reliance Industries. Reliance Retail’s gross

Earlier, Timberland had to close its retail stores across India in 2015 due to stiff competition in the local market and conflict with a similar local brand Woodland New Delhi: Timberland, an American outdoor footwear and apparel brand, is back with Reliance Retail, as it now features on the catalogue of its fashion e-tail platform Ajio. Earlier, Timberland had to close its retail stores across India in 2015 due to stiff competition in the local market and conflict with a similar local brand Woodland. The Timberland Company, a subsidiary of US-based VF Corporation, and Woodland, which also has a tree logo, were engaged in litigation over intellectual property, as the two have identical logos and products. On Monday, in its earnings statement, Reliance Industries said: “Ajio has been strengthening its portfolio through new brand launches like Asos, H&M, Timberland, to name a few”. Reliance Brands, a step-down unit of Reliance Retail, had a distribution and licensee agreement w

The company is targeting to start construction of this project before March 2024 New Delhi: Realty firm Gaurs Group will invest about Rs 4,000 crore to develop a 17-acre commercial project in Noida as part of its strategy to build rental assets, a top company official said. Gaurs Group Chairman and Managing Director (CMD) Manoj Gaur said the company will develop 5 million (50 lakh) sq ft of commercial space in the upcoming Grade-A project. “We are planning to develop a large commercial project on the Noida Expressway. The total area will be about 5 million sq ft, of which 2.5 million sq ft will be retail, 2 million sq ft office and a hotel with more than 300 keys,” Gaur said. He said the company will develop the project on a lease model to boost its annual rental income which currently stands at more than Rs 125 crore. Asked about investment, Gaur said it will be about Rs 4,000 crore. The company is targeting to start construction of this project before March 2024. Gaur said t

Sales for fasting-friendly chips, Kattu and Rajgira atta, grew significantly compared to last year’s Navratri sales, as stated by Zepto co-founder and CEO Aadit Palicha New Delhi: With Navratri festivities drawing to a close, quick commerce firm Zepto co-founder and CEO Aadit Palicha took to LinkedIn to inform that the platform sold over 1 Lakh dandiya sticks during the season. “What a day! Closing out Navratri 2024 with a grateful heart, seeing the beauty of India’s diversity through our users, sellers, brands, and every Zeptonian, who made it all happen. From essentials to festive picks, thank you for making us part of India’s celebrations across nine incredible days,” he wrote on LinkedIn. Through graphics, he shared that the Mumbai-headquartered firm sold 1,00,000 plus dandiya sticks during the season. He further said sales for fasting-friendly chips, Kattu and Rajgira atta, grew significantly compared to last year’s Navratri sales. Palicha also shared how Zepto ‘s dark store

Its revenue from operations rose 14.41 per cent to Rs 14,444.50 crore during the quarter under review New Delhi: Avenue Supermarts Ltd, which owns and operates the retail chain D-Mart, on Saturday reported a 5.78 per cent increase in its consolidated net profit to Rs 659.44 crore for the second quarter ended September 2024. The company had posted a net profit of Rs 623.35 crore a year ago, according to a regulatory filing from Avenue Supermarts. Its revenue from operations rose 14.41 per cent to Rs 14,444.50 crore during the quarter under review. It was Rs 12,624.37 crore in the corresponding quarter of the last fiscal. Avenue Supermarts’ total expenses in the September quarter increased 14.94 per cent to Rs 13,574.83 crore. The total income, which includes other income, surged 14.34 per cent to Rs 14,478.02 crore. During the quarter, D-Mart opened six new stores, taking its total count to 377 as of September 30, 2024. Avenue Supermarts CEO & Managing Director Neville No

Mohit Malik, Chief Technology Officer, Chaayos sheds light on the growing relevance of technology in the food industry and how Chaayos harnesses technology to achieve efficiencies and offer differentiated experiences New Delhi: With over 16 years of experience, Mohit Malik is a technology pro. Since June 2015, he has been serving as the Chief Technology Officer (CTO) at Chaayos, where he has been instrumental in transforming the company’s technological landscape through innovative and data-driven solutions. His career trajectory has seen him take on leadership roles at notable firms, including his previous position as Vice President at Goldman Sachs, and technical roles at Tribal Fusion and GlobalLogic India Pvt. Ltd. Throughout his professional journey, Mohit has focused on utilizing technology to solve complex business challenges, emphasizing a strong alignment between technology initiatives and business outcomes. Founded in November 2012, Chaayos was conceived as a modern inter