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regular-article-logo Tuesday, 27 February 2024

One97 Communications lessens consolidated loss to Rs 167.5 crore in the fourth quarter

The company had posted a loss of Rs 762.5 crore in the same period of the last year

PTI New Delhi Published 06.05.23, 06:07 AM
For the year ended March  31, 2023, One97 Communica- tions reported narrowing of  loss to Rs 1,776.5 crore from Rs 2,396.4 crore in the previous  fiscal.

For the year ended March 31, 2023, One97 Communica- tions reported narrowing of loss to Rs 1,776.5 crore from Rs 2,396.4 crore in the previous fiscal. Representational picture

Digital financial services firm One97 Communications, which operates under the Paytm brand, on Friday posted a narrowing of consolidated loss to Rs 167.5 crore in the fourth quarter ended March 31, 2023.

The company had posted a loss of Rs 762.5 crore in the same period of the last year.

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The consolidated revenue from operations of the company grew 51.5 per cent to Rs 2,334.5 crore in the quarter under review from Rs 1,540.9 crore in the March quarter of FY22.

For the year ended March 31, 2023, One97 Communications reported narrowing of loss to Rs 1,776.5 crore from Rs 2,396.4 crore in the previous fiscal. The revenue from operations of the company grew about 60 per cent to Rs 7,990.3 crore in FY23 from Rs 4,974.2 crore in FY22.

Britannia profit jumps

Britannia Industries on Friday reported a 47.53 per cent rise in consolidated net profit to Rs 557.60 crore for the fourth quarter ended March, helped by gains from distribution expansion, cost management and softening commodity prices. The company had posted a net profit of Rs 377.95 crore in the January-March quarter a year ago.

Revenue from operations rose 10.93 per cent to Rs 3,892.02 crore against Rs 3,508.35 crore a year ago.

“On the cost & profitability front, input prices softened on the back of correction in palm oil and packaging materials, while flour continued to trend higher,” said Britannia’s earning statement.

Marico net up 18.6%

Marico on Friday reported an 18.68 per cent increase in its consolidated net profit to Rs 305 crore for the fourth quarter ended March, driven by single-digit volume growth and moderation in key commodity prices.

The company had posted a net profit of Rs 257 crore in the January-March quarter a year ago. PTI

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