Widening Loss
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Ola Electric's Quarterly Loss Widens to Rs. 870 Crore
Ola Electric Mobility reported a loss of Rs. 870 crore ($101.8 million) in the quarter ended March 31, compared with a loss of Rs. 416 crore a year earlier. Its total expenses fell 31.6 percent to Rs. 13.6 crore.
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Meta Warns of Worsening AI Losses After Sales Narrowly Beat
Meta CEO Mark Zuckerberg said the company will ramp up heavy investments in AI and other futuristic technologies. The Meta executive has warned investors that the firm will continue to spend significantly on infrastructure and other projects like the metaverse and AI-powered glasses.
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Lays Off At Paytm As Loss Widens After RBI Action
Fintech firm One97 Communications, owner of Paytm brand, is laying off an undisclosed number of employees and claimed that it is providing outplacement support for their smooth transition, according to a company statement.
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Paytm Q4 FY24 Loss Widens To Rs 550 Crore After RBI Action Against Payments Bank
Digital payments firm Paytm posted a wider loss in the fiscal fourth quarter on Wednesday, hurt by weakness in its payments and financial services business after the central bank shut down its banking unit.
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Vodafone Idea Seeks 30-Day Extension to Pay Rs. 1,680 Crore for Spectrum Auction Instalment
Debt-ridden Vodafone Idea has sought 30 days more time to pay around Rs. 1,680 crore for spectrum auction instalment due on Thursday, a senior company official said on Wednesday. The company has proposed to pay the amount with interest.
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Spotify Beats Expectations to Cross 500 Million User Mark as First Quarter Loss Widens
Spotify on Tuesday stated that it had 515 million monthly active users on the platform in March, while the number of paying subscribers rose to 210 million. The music streaming service said it had posted its "strongest" first quarter "since going public in 2018," even as the firm's operating loss widened in the first quarter of 2023.
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Zomato Reports Consolidated Net Loss in Q3 2022, Says Firm Exited 225 Smaller Cities
Online food delivery platform Zomato on Thursday reported a widening of consolidated net loss at Rs. 346.6 crore in the third quarter ended December 31, 2022 impacted by higher expenses and slowdown in food delivery business. The company had posted a consolidated net loss of Rs. 67.2 crore in the same quarter last fiscal, Zomato said in a regulato...
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Flipkart Losses Widened to Over Rs. 7,800 Crore, Net Income Increased by 20 Percent in FY22
Flipkart's losses in the financial year 2021-2022 based on performance of the company's business-to-business unit Flipkart India and business-to-consumer Flipkart Internet widened to Rs. 7,800 crore, according to regulatory filings. The combined loss of the company's entities for the financial year 2020-2021 stood at Rs. 5,352 crore. Meanwhile, the...
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Vodafone Idea Q2 Loss Widens to Rs. 7,596 Crore, ARPU Rises as Telecom Operator Continues to Lose Subscribers
Vodafone Idea on Thursday reported that its Q2 loss had widened to Rs. 7,596 crore on the back of a decline in subscribers and higher expenses for the telecom service provider. The operator said its subscriber base declined to 234.4 million from 240.4 million in the first quarter, while total expenses rose 10 percent to Rs. 18,302 crore.
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Byju’s Posts 13-Fold Widening in Losses in Delayed FY 2021 Report, Accounting Changes Detailed: Report
Byju’s on Wednesday released audited financial statements after months of delay. The Bengaluru-based company reported a 13-fold widening in losses in the year through March 2021, with net losses widening to Rs. 45.7 billion. The company also announced unaudited numbers for the year through March 2022.
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MTNL Consolidated Loss Widens to Rs. 653 Crore in June Quarter: All Details
MTNL has reported that its consolidated loss narrowed to Rs. 653 crore in the June quarter. The state-run telecom firm revealed that consolidated revenue from operations fell by about 17 per cent in the first quarter of the current fiscal, while auditors of MTNL said the company's net worth has been fully eroded.
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Paytm Shares Jump to Six-Month High on Increased Monthly Users, More Payment Devices, Surge in Revenue
Paytm shares jumped to a six-month high, on the back of increased monthly users, additional payment devices and more disbursal of loans. On Friday, Paytm reported an 89 percent surge in quarterly revenue, which rose to Rs 1,680 crore, from Rs. 891 crore last year. Paytm, which competes with Google's payment app and Walmart's PhonePe in India's digi...
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Paytm Monthly Transacting Users Grew 49 Percent YoY, Q1 Net Loss Widens to Rs 644.4 Crore
Paytm announced on Friday that its consolidated loss had widened to Rs. 644.4 crore in the quarter ended June 30. The firm One97 Communications, which operates under the Paytm brand, said that it had recorded a net loss of Rs. 380.2 crore a year ago. Meanwhile, the company said that its monthly transacting users grew by 49 percent on a year-on-yea...
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Paytm CEO Says Firm Chasing $1 Billion Goal, Seeks to ‘Rewind-and-Reset’ Fintech Pioneer After IPO Fiasco
Paytm CEO Vijay Shekhar Sharma is looking to rewind-and-reset the fintech pioneer in India, following the stock-price collapse which exacerbated a crisis for India’s startups. The fintech firm’s founder is looking to win back investor confidence, as the company’s operating losses widened over the past year to about $350 million (roughly Rs. 2...
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Vodafone Idea (Vi) Subscriber Base Declines by Nearly 2 Crore YoY, Q3 Loss Widens to Rs. 7,231 Crore
Vodafone Idea (Vi) reported widening of its consolidated loss to Rs 7,230.9 crore for the third quarter ended December 2021.
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Ola Electric's Quarterly Loss Widens to Rs. 870 Crore
Ola Electric Mobility reported a loss of Rs. 870 crore ($101.8 million) in the quarter ended March 31, compared with a loss of Rs. 416 crore a year earlier. Its total expenses fell 31.6 percent to Rs. 13.6 crore.
-
Meta Warns of Worsening AI Losses After Sales Narrowly Beat
Meta CEO Mark Zuckerberg said the company will ramp up heavy investments in AI and other futuristic technologies. The Meta executive has warned investors that the firm will continue to spend significantly on infrastructure and other projects like the metaverse and AI-powered glasses.
-
Lays Off At Paytm As Loss Widens After RBI Action
Fintech firm One97 Communications, owner of Paytm brand, is laying off an undisclosed number of employees and claimed that it is providing outplacement support for their smooth transition, according to a company statement.
-
Paytm Q4 FY24 Loss Widens To Rs 550 Crore After RBI Action Against Payments Bank
Digital payments firm Paytm posted a wider loss in the fiscal fourth quarter on Wednesday, hurt by weakness in its payments and financial services business after the central bank shut down its banking unit.
-
Vodafone Idea Seeks 30-Day Extension to Pay Rs. 1,680 Crore for Spectrum Auction Instalment
Debt-ridden Vodafone Idea has sought 30 days more time to pay around Rs. 1,680 crore for spectrum auction instalment due on Thursday, a senior company official said on Wednesday. The company has proposed to pay the amount with interest.
-
Spotify Beats Expectations to Cross 500 Million User Mark as First Quarter Loss Widens
Spotify on Tuesday stated that it had 515 million monthly active users on the platform in March, while the number of paying subscribers rose to 210 million. The music streaming service said it had posted its "strongest" first quarter "since going public in 2018," even as the firm's operating loss widened in the first quarter of 2023.
-
Zomato Reports Consolidated Net Loss in Q3 2022, Says Firm Exited 225 Smaller Cities
Online food delivery platform Zomato on Thursday reported a widening of consolidated net loss at Rs. 346.6 crore in the third quarter ended December 31, 2022 impacted by higher expenses and slowdown in food delivery business. The company had posted a consolidated net loss of Rs. 67.2 crore in the same quarter last fiscal, Zomato said in a regulato...
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Flipkart Losses Widened to Over Rs. 7,800 Crore, Net Income Increased by 20 Percent in FY22
Flipkart's losses in the financial year 2021-2022 based on performance of the company's business-to-business unit Flipkart India and business-to-consumer Flipkart Internet widened to Rs. 7,800 crore, according to regulatory filings. The combined loss of the company's entities for the financial year 2020-2021 stood at Rs. 5,352 crore. Meanwhile, the...
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Vodafone Idea Q2 Loss Widens to Rs. 7,596 Crore, ARPU Rises as Telecom Operator Continues to Lose Subscribers
Vodafone Idea on Thursday reported that its Q2 loss had widened to Rs. 7,596 crore on the back of a decline in subscribers and higher expenses for the telecom service provider. The operator said its subscriber base declined to 234.4 million from 240.4 million in the first quarter, while total expenses rose 10 percent to Rs. 18,302 crore.
-
Byju’s Posts 13-Fold Widening in Losses in Delayed FY 2021 Report, Accounting Changes Detailed: Report
Byju’s on Wednesday released audited financial statements after months of delay. The Bengaluru-based company reported a 13-fold widening in losses in the year through March 2021, with net losses widening to Rs. 45.7 billion. The company also announced unaudited numbers for the year through March 2022.
-
MTNL Consolidated Loss Widens to Rs. 653 Crore in June Quarter: All Details
MTNL has reported that its consolidated loss narrowed to Rs. 653 crore in the June quarter. The state-run telecom firm revealed that consolidated revenue from operations fell by about 17 per cent in the first quarter of the current fiscal, while auditors of MTNL said the company's net worth has been fully eroded.
-
Paytm Shares Jump to Six-Month High on Increased Monthly Users, More Payment Devices, Surge in Revenue
Paytm shares jumped to a six-month high, on the back of increased monthly users, additional payment devices and more disbursal of loans. On Friday, Paytm reported an 89 percent surge in quarterly revenue, which rose to Rs 1,680 crore, from Rs. 891 crore last year. Paytm, which competes with Google's payment app and Walmart's PhonePe in India's digi...
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Paytm Monthly Transacting Users Grew 49 Percent YoY, Q1 Net Loss Widens to Rs 644.4 Crore
Paytm announced on Friday that its consolidated loss had widened to Rs. 644.4 crore in the quarter ended June 30. The firm One97 Communications, which operates under the Paytm brand, said that it had recorded a net loss of Rs. 380.2 crore a year ago. Meanwhile, the company said that its monthly transacting users grew by 49 percent on a year-on-yea...
-
Paytm CEO Says Firm Chasing $1 Billion Goal, Seeks to ‘Rewind-and-Reset’ Fintech Pioneer After IPO Fiasco
Paytm CEO Vijay Shekhar Sharma is looking to rewind-and-reset the fintech pioneer in India, following the stock-price collapse which exacerbated a crisis for India’s startups. The fintech firm’s founder is looking to win back investor confidence, as the company’s operating losses widened over the past year to about $350 million (roughly Rs. 2...
-
Vodafone Idea (Vi) Subscriber Base Declines by Nearly 2 Crore YoY, Q3 Loss Widens to Rs. 7,231 Crore
Vodafone Idea (Vi) reported widening of its consolidated loss to Rs 7,230.9 crore for the third quarter ended December 2021.
