Reuters India Business

BENGALURU (Reuters) – India’s FSN E-Commerce Ventures, parent of online beauty products seller Nykaa, reported a nearly three-fold jump in quarterly net profit attributable to shareholders on Wednesday as consumers were drawn to the heavy discounts it offered. The company also announced an investment of up to 200 million rupees ($2.4 million) in unit FSN …

Indian beauty products retailer Nykaa posts near three-fold jump in Q4 profit Read More »

By Siddhi Nayak MUMBAI (Reuters) – Paytm posted a wider loss in the fourth quarter on Wednesday and warned of further financial impact in the current quarter as the Indian digital payments firm absorbs the full impact of the Reserve Bank of India’s (RBI) directive to wind down its banking unit. The company’s consolidated net …

India’s Paytm warns of more financial impact from banking unit wind down Read More »

By Sai Ishwarbharath B BENGALURU (Reuters) – Mid-tier firms in India’s $254 billion information technology sector took market share from industry goliaths in recent quarters as clients curtailed discretionary spending amid inflationary pressures and economic uncertainty, analysts said. Unlike their larger rivals such as Tata Consultancy Services and Infosys, mid-tier IT firms tend to focus …

India’s mid-tier IT firms gain share from industry goliaths Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee rose to its highest in over a month on Tuesday, aided by dollar sales from large foreign banks and a dip in Treasury yields ahead of the release of minutes from the Federal Reserve’s latest policy meeting later in the day. The rupee was at 83.23 …

Rupee climbs to over one-month high on foreign banks’ dollar sales Read More »

By Swati Bhat MUMBAI (Reuters) – Aggregate demand momentum in India is rising, with the overall non-food spending being pushed up by green shoots in rural spending recovery, the Reserve Bank of India said in its monthly bulletin on Tuesday. “Recent indicators are pointing to a quickening of the momentum of aggregate demand. In the …

Demand momentum in India rising, rural spending picking pace, says RBI Read More »