Business

[ad_1] BENGALURU: FSN E-Commerce Ventures, which operates Nykaa, reported a 110% year-on-year increase in consolidated net profit to Rs 19 crore for the March quarter, with margin gains in its core beauty segment and improved performance from its eB2B and retail operations. Revenue rose 24% year-on-year to Rs 2,062 crore in the quarter ended March 2025, while Ebitda increased 43% to Rs 133 crore. Ebitda margin improved to 6.5% from 5.6% a year earlier.For FY25, consolidated revenue stood at Rs 7,950 crore, up 24%, while gross merchandise value (GMV) rose 25% to Rs 15,604 crore. Annual net profit grew 81% to Rs 72 crore. The company attributed the growth to contribution from owned brands, retail expansion, and operating leverage in the beauty business.Nykaa’s beauty vertical reported GMV of Rs 11,775 crore in FY25, growing 30% year-on-year. “In Q4, we delivered […]

[ad_1] The rupee gave up its early gains to close 7 paise lower at 85.55 against the US dollar on Friday, pressured by volatile domestic equity markets and a rebound in global crude oil prices. Caution prevailed among investors ahead of the upcoming GDP data release, forex traders said.The domestic currency opened at 85.35 and fluctuated between an intraday high of 85.25 and a low of 85.64 before settling at 85.55, marking a modest decline from the previous close. On Thursday, the rupee had ended 10 paise lower at 85.48, PTI reported.Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said, "The rupee’s weakness today reflects a combination of increased demand for dollars from importers due to month-end transactions and rising crude oil prices. However, sustained foreign inflows and a softer US dollar index provided some support."The US dollar index, which […]

[ad_1] The US Federal Reserve’s preferred inflation gauge eased more than expected in April, offering a temporary reprieve from price pressures even as new tariffs introduced by President Donald Trump began to take effect.According to data released Friday by the Commerce Department, the personal consumption expenditures (PCE) price index rose 2.1% year-over-year, down from a revised 2.3% in March. The figure came in slightly below the 2.2% median forecast from economists surveyed by Dow Jones Newswires and The Wall Street Journal, keeping overall inflation just above the Fed’s 2% long-term target, AFP reported.On a monthly basis, headline inflation edged up 0.1%, mirroring the increase in the “core” PCE index, which excludes volatile food and energy prices. Core inflation rose 2.5% from a year earlier, just under the 2.6% economists had projected.“We're seeing evidence that we were on track for a […]

[ad_1] US inflation gauge cools with little sign of tariff impact, so far (Photo: AP) A key US inflation gauge slowed last month as President Donald Trump's tariffs have yet to noticeably push up prices, while American incomes jumped. Friday's report from the Commerce Department showed that consumer prices rose just 2.1 per cent in April compared with a year earlier, down from 2.3 per cent in March and the lowest since September. Excluding the volatile food and energy categories, core prices rose 2.5 per cent from a year earlier, below the March figure of 2.6 per cent. Economists track core prices because they typically provide a better read on where inflation is headed. The figures show inflation is still declining from its post-pandemic spike, which reached the highest level in four decades in July 2022. Economists and some business […]

[ad_1] India has agreed to exempt Saudi Arabia’s Public Investment Fund (PIF) from certain foreign portfolio investment (FPI) rules in a move aimed at attracting long-term capital and deepening financial engagement with the Gulf nation, two sources familiar with the matter said.The exemption comes amid ongoing efforts by both countries to strengthen economic ties, following Prime Minister Narendra Modi’s visit to Saudi Arabia in April. During the visit, both sides committed to promoting investment in sectors such as energy, infrastructure, and pharmaceuticals.The rules in question limit foreign ownership by clubbing investments from various sovereign entities under a single 10% cap in a listed Indian company. This had constrained the PIF and its subsidiaries from making independent investments in India.“The requirement to club investment from different sovereign entities together limits the ability of the Saudi fund and its subsidiaries to invest […]

[ad_1] The government has pegged the full fiscal year GDP growth at 6.5% provisionally. (AI image) India Q4 GDP data: The Indian economy grew at a better-than-expected rate of 7.4% in the fourth quarter of FY 2024-25. The government has pegged the full fiscal year GDP growth at 6.5% provisionally. While the economy has picked up pace quarter-on-quarter, the full year GDP growth of 6.5% is a four-year low. In 2021-22 the GDP growth was 9.7%; it was 7.6% In FY 2022-23; 9.2% in FY 2023-24.India Quarterly & Annual GDP and GVA estimatesIn Q4 of FY 2024-25, the Real GDP or GDP at Constant Prices reached an estimated ₹51.35 lakh crore, showing a 7.4% increase from ₹47.82 lakh crore in Q4 of FY 2023-24. The Nominal GDP or GDP at Current Prices demonstrated a 10.8% growth, reaching ₹88.18 lakh crore […]

[ad_1] Spain inflation falls below target in May (Photo: AP) Spanish inflation dipped below the European Central Bank's two percent target in May, preliminary data showed Friday, boosting the case for more interest rate cuts in the eurozone.Consumer price rises in the European Union's fourth-largest economy slowed to 1.9 percent on an annual basis, down from 2.2 percent in April, the National Statistics Institute said.The decline was mainly driven by a decrease in leisure and cultural prices, which had spiked in May 2024 and a slight decrease in transportation costs, the agency said in a statement.The drop reinforces a trend of slowing inflation in Spain and the rest of the eurozone in recent months.Spanish Prime Minister Pedro Sanchez welcomed the figures, writing on social network X that his "government is delivering"."We are achieving growth while easing price pressures, despite global […]

[ad_1] IndiGo CEO Pieter Elbers (File photo) IndiGo is stepping up its global ambitions with plans to launch direct flights to 10 international destinations, including key European cities such as London, Athens, Amsterdam, and Manchester, in the current financial year. This strategic move marks a significant milestone in the airline’s growth, including its much-anticipated entry into long-haul services.CEO Pieter Elbers, speaking at a press briefing in the national capital on Friday, emphasized the growing potential of Indian aviation. “There is an enormous opportunity in Indian aviation where rising demand is supported by infrastructure expansion,” he said, as quoted PTI.In July, IndiGo will commence direct flights from Mumbai to Manchester and Amsterdam using leased Boeing 787-9 aircraft, with the Manchester service marking the airline’s foray into long-haul operations.Other international routes include Copenhagen (Denmark), Siem Reap (Cambodia), and four additional cities in […]

[ad_1] Sebi has imposed monetary penalties of Rs 5 lakh each on Warsi and Goretti. The Securities and Exchange Board of India (Sebi) has imposed restrictions on actor Arshad Warsi, his spouse Maria Goretti and 57 other individuals from participating in securities markets for periods ranging from one to five years. This action follows their involvement in deceptive YouTube videos that encouraged share purchases of Sadhna Broadcast.The regulatory body has imposed monetary penalties of Rs 5 lakh each on Warsi and Goretti, alongside a one-year securities market prohibition, according to Sebi's directive issued on Thursday.Additionally, the regulator has imposed financial penalties ranging from Rs 5 lakh to Rs 5 crore on 57 other parties, including the promoters of Sadhna Broadcast (presently known as Crystal Business System Ltd).The regulatory body has instructed all 59 entities to return collective illegal profits of […]

[ad_1] Gold price prediction: The precious metal, which closed at ₹96500 levels, is likely to face immediate selling pressure as global cues turn negative. (AI image) Gold price prediction today: Gold rate remains below its record peak, leaving investors uncertain about their trading decisions regarding the precious metal. Which price points should investors monitor? Here's the analysis from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities:MCX Gold June 2025 contract is expected to open with a significant gap down following weakness in COMEX gold overnight. The precious metal, which closed at ₹96500 levels, is likely to face immediate selling pressure as global cues turn negative. This presents a strategic opportunity for intraday traders to capitalize on any pullback rallies. Current Technical SetupPrevious Close: ₹96500Expected Opening Range: ₹96100-96200 (gap down of 300-400 points)Key Technical Levels:EMA 8: ₹96350 (now […]