Aditya Birla Retail expects to be profitable by 2017 despite high debt burden.
High Speed Lane: Rapid growth during fiscal 2016 is in line with large India investments.
The financial performance numbers are also reflective of the change of pace in investments by both the etailers.
Apple India sales grew 54% to Rs 9,997.1cr during FY16 compared to Rs 6,472.89cr a year ago, while net profit rose 21% to Rs 294cr as the company widened its retail network into smaller cities and lowered prices.
PepsiCo India Holdings posted a 15% decline in revenue during the year to March at Rs 6,526 crore, mainly due to a steep fall in aerated and non-aerated drinks.
Higher digital ad spends help social media giant post revenue of Rs 177 cr, double net profit to Rs 31 cr in FY16.
To send mid-level executives to work at startups for 3 months to 2 years to instil entrepreneurial mindset and agility.
About 1.2 crore Indians started using digital wallets and mobile payments surged to its highest-ever reach at 70% in the week, following withdrawal of Rs 500 and Rs 1,000 notes, said a Nielsen report on the impact of the demonetisation a fortnight ago.
Digital wallets and mobile wallets surge to their highest level, modern trade grows five-fold: Nielsen
For digital wallet companies, weekly installation numbers doubled in the week post announcement, clocking an all-time peak of 28%. Usage frequency too surged by 15%.
Revenue of these brands put together nearly equals sales of department store chains Shoppers Stop or Lifestyle International that sell around a hundred brands.
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