Tag: logs

  • Paytm logs Rs 7,990 cr revenue in FY23, becomes India’s highest earning new-age firm

    Paytm logs Rs 7,990 cr revenue in FY23, becomes India’s highest earning new-age firm

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    New Delhi: Leading payments and financial services company Paytm on Friday announced an impressive growth in its fourth quarter of FY23, ending the financial year on a high note.

    In Q4 FY23, the company’s revenue surged by 51 percent (year-on-year) to reach Rs 2,334 crore, while the full-year revenue increased by 61 percent YoY to Rs 7,990 crore, making it the highest earning new-age company.

    In Q4, Paytm further grew its operating profit by Rs 234 crore. In Q4, Paytm’s EBITDA before ESOP costs, excluding UPI incentives, rose to Rs 101 crore, a significant improvement from the previous fiscal’s Q4 figure of (Rs 368 crore).

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    This was achieved by the increased pace of monetisation, better cost management, and higher operating leverage, said the company.

    In the fourth quarter, Paytm’s payments revenue grew by 41 percent YoY to Rs 1,467 crore.

    According to the company, including only current quarter’s UPI incentive only, net payments margin for Q4 FY 2023 was Rs 554 crore, up 107 percent YoY. In the current fiscal year, net payments margin increased 2.9x to Rs 1,970 crore, demonstrating the profitability of the payment business, despite the higher share of UPI.

    Excluding prior quarters’ UPI incentive, payments revenue grew 28 percent YoY. For FY23, led by increase in payment volume, and higher subscription revenue from device merchants, the payment revenue increased 44 percent to Rs 4,928 crore in FY23.

    Paytm significantly increased its loan distribution business with revenue from financial services and others growing 183 percent YoY to Rs 475 crore in Q4 FY 2023 and by 253 percent in FY 2023 to Rs 1,540 crore. This was largely on account of a 364 percent increase in the value of loans disbursed through its platform, said the company.

    The company continues to monetise Paytm app traffic in its commerce and cloud segment by providing marketing services to its merchants. In Q4 FY 2023, Paytm’s commerce and cloud revenue grew by 23 percent YoY to Rs 392 crore.

    In FY 2023, commerce and cloud revenue grew by 38 percent to Rs 1,520 crore.

    Paytm’s contribution margin improved from 30 percent in FY 2022 to 49 percent in FY 2023, due to improved payments profitability, and growth in high margin loan distribution business.

    The company’s user engagement on the platform continues to grow, with average Monthly Transacting Users (MTU) for Q4FY23 increasing by 27 percent YoY to 90 million, indicating a growing adoption of digital payments by consumers and merchants in India.

    The company’s Gross Merchandise Value (GMV), which stood at Rs 3.62 lakh crore for Q4 FY 2023, saw an increase of 40 percent YoY.

    The company’s loan distribution business, in partnership with marquee lenders, has continued to scale, with the total number of loans growing to 1.2 crore in Q4FY23, up 82 percent YoY, and the total value of loans amounting to Rs 12,554 crore, registering a growth of 253 percent YoY.

    Paytm claims its vision is to onboard 10 crore merchants with over 50 crore payment users in the near future. The decacorn has seven lending partners and they aim to enlist 3-4 partners in FY 2024.

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    ( With inputs from www.siasat.com )

  • HDFC Bank logs 19 pc growth in net profit, proposes Rs 19 dividend

    HDFC Bank logs 19 pc growth in net profit, proposes Rs 19 dividend

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    Chennai: Private sector HDFC Bank Ltd on Saturday said it had closed FY23 with a 19.3 per cent increase in net profit and the Board has proposed a dividend of Rs 19 per share.

    The HDFC Bank said it had closed FY23 with a net profit of Rs 44,107.7 crore (previous year Rs 36,961.33 crore) on a total income of Rs 192,800.4 crore (Rs 157,263 crore).

    Net revenues (net interest income plus other income) for the year ended March 31, 2023 were Rs 118,057.1 crore, as against Rs 101,519.5 crore for the year ended March 31, 2022.

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    The company’s provisions for FY23 stood at Rs 11,919.67 crore (Rs 15,061.83 crore).

    While the gross non-performing asset (GNPA) as on 31.3.2023 stood at Rs 18,019.03 crore (Rs 16,140.96 crore) the net NPA as on that date was at Rs 4,368.43 crore (Rs 4.407.68 crore).

    The Board of Directors at its meeting held on April 15, 2023, proposed a dividend of, 19.00 per share (Rs 15.50 per share).

    The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 19.3 per cent as on March 31, 2023 (18.9 per cent as on March 31, 2022) as against a regulatory requirement of 11.7 per cent which includes Capital Conservation Buffer of 2.5 per cent, and an additional requirement of 0.2 per cent on account of the Bank being identified as a Domestic Systemically Important Bank (D-SIB), HDFC Bank said.

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    ( With inputs from www.siasat.com )

  • Mumbai logs over 300 COVID-19 cases, records 2 deaths in day after 7 months

    Mumbai logs over 300 COVID-19 cases, records 2 deaths in day after 7 months

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    Mumbai: Mumbai on Wednesday recorded 320 new COVID-19 cases, the highest daily count since September 3, 2022, taking the overall tally to 11,59,545, while two more patients succumbed to the infection in the metropolis, the local civic body said.

    A Brihanmumbai Municipal Corporation (BMC) bulletin said the two new coronavirus-linked deaths pushed up the toll to 19,752.

    This was the first time after September 22, 2022, that the financial capital has recorded two deaths due to the respiratory illness in a span of 24 hours.

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    The deceased were a 50-year-old male patient with chronic lung disease and an 81-year-old man suffering from pneumonia, said the civic body.

    On Tuesday, the city had logged 242 COVID-19 cases, but no fatality.

    On September 3, 2022, Maharashtra had reported 394 cases.

    Mumbai’s active caseload crossed the 1,500-mark and stood at 1,577 due to the widening gap between new and recovered cases, as per the bulletin.

    According to the BMC, 219 patients recovered in the last 24 hours, taking their cumulative number to 11,38,216.

    In the wake of recent spurt in COVID-19 cases, Mumbai’s civic body has made face masks mandatory inside the premises of all municipal hospitals from April 10. It has also appealed to citizens above 60 years of age and BMC employees to wear masks as a precautionary measure though face covering is not mandatory.

    As per the bulletin, the city’s coronavirus recovery rate stood at 98.2 per cent, while the growth rate of cases between April 5 and 11 was 0.0171 per cent.

    The case doubling rate was 3,882 days, it added.

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    ( With inputs from www.siasat.com )

  • India logs 918 fresh Covid cases, 4 deaths in last 24 hours

    India logs 918 fresh Covid cases, 4 deaths in last 24 hours

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    New Delhi: India recorded a single-day rise of 918 new Covid cases in the past 24 hours pushing the active cases to 6,350, according to the Union health ministry data on Monday.

    Meanwhile, the country also reported four Covid deaths — two in Rajasthan, and one each in Karnataka and Kerala. With this, the total death toll stands at 5,30,806.

    Recovery of 479 patients in the same period took the cumulative tally to 4,41,59,182. Consequently, the recovery rate stands at 98.80 per cent.

    Meanwhile, the Daily Positivity rate has been pegged at 2.08 per cent, while the Weekly Positivity Rate stands at 0.86 per cent.

    Also in the same period, a total of 44,225 tests were conducted across the country, increasing the overall tally to over 92.03 crore. As of Monday morning, a total 220.65 crore vaccines have been administered against Covid that includes 1,246 doses in the past 24 hours, said the ministry.

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    ( With inputs from www.siasat.com )

  • Hyderabad govt hospital logs in 100 dog bite cases each day

    Hyderabad govt hospital logs in 100 dog bite cases each day

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    Hyderabad: The Government Fever Hospital in Hyderabad where most dog bite cases in the city are reported has started seeing a surge in dog bite cases with almost 100 cases being reported in a day.

    The Professor of medicine at the Government Fever hospital, Dr Kondal Reddy informed us that dogs will be more furious during this season and the hospital is receiving around 90 to 110 cases each day.

    The doctor said, “In regard to the increasing number of dog bites in our area the first thing is that prevention is better than cure. Actually, there is no cure for rabies. It has 100 per cent mortality.

    Whatever may be the case, we should follow appropriate steps to escape from dog bites. If there are more street dogs, they should be notified to the authorities for sterilization and appropriate water facilities must be provided for them.

    Mostly during the summer months, the dogs will be in a more furious state causing unnecessary bites to passerby people including children. People especially children should stay away from a group of street dogs.”

    The doctor further spoke about the steps to be taken once a dog bite happens.
    He said, “Dog bite injuries are mainly of three types. Grade 1 is a slight scratch, Grade 2 is a deeper injury and Grade 3 is where underlying muscles are exposed.

    Whether it is a domestic dog bite or a street dog bite, earlier we used to observe the animal whether it is alive or dead for a period of 10 days. However, now we are giving immunization for most dog bite cases higher than Grade 2.

    When a dog bite happens, immediately wash the wound under running tap water for a period of 10 to 15 minutes using soap or detergent. This will prevent rabies from occurring up to 80 per cent.

    This is a crucial step that we can do at home. Simply putting a bandage on a dog bite wound is not correct. After this, the patient should be taken to the nearby hospital.”

    “Here at our hospital, the government has supplied free RIG (Rabies Immunoglobulin) and also monoclonal antibodies. We are also administering active immunization here during the night time and during the daytime.

    We have also sent the cases to IPM for active immunization. There is no way to escape from death, once rabies has occurred in a person. Rabies can occur by the bite of a dog, domestic cat, wild cat or monkey.

    Rabies vaccine should definitely be administered if a person is bitten by any of these animals. Here we give the human monoclonal antibody immunoglobulin that is Rabishield immediately to patients based on their body weight.

    Later we will give active immunization on the following days that is 0, 3, 7, 14 and 28, a minimum of five doses. In case a second bite occurs in this time period, we still have to follow the schedule. During the summer months, the dogs will be more furious. The number of cases in our hospital is ranging from 90 to 110 now.”

    A patient named Chinna, who came for dog bite treatment, said, “I have come to the hospital after a street dog had bitten me. I took a total of four injections here. There have also given me a schedule for further injections.”

    Notably, the recent dog bite incident in Amberpet, Hyderabad where a small boy died from a dog bite had shaken the conscience of the people of Hyderabad.

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    ( With inputs from www.siasat.com )

  • Apple logs $65.8 bn in iPhone revenue as China disruptions hit supply

    Apple logs $65.8 bn in iPhone revenue as China disruptions hit supply

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    New Delhi: Apple reported $65.8 billion in revenue for iPhones in the holiday quarter, down 8 per cent (year-over-year).

    However, on a constant currency basis, iPhone revenue was roughly flat, according to the company.

    Apple faced supply chain disruptions in October and November as China faced Covid surge and protests erupted at its key supplier Foxconn’s main factory in the country.

    Cook said that Covid-related challenges “significantly impacted the supply of iPhone 14 Pro and iPhone 14 Pro Max and lasted through most of December”.

    “Because of these constraints, we had significantly less iPhone 14 Pro and iPhone 14 Pro Max supply than we planned, causing ship times to extend far beyond what we had anticipated,” he noted.

    Cook said that as a result of a challenging environment, “our revenue was down 5 per cent year over year”.

    “But I’m proud of the way we have navigated circumstances, seen and unforeseen, over the past several years, and I remain incredibly confident in our team and our mission and in the work we do every day,” he said in an earnings call with analysts.

    “Our customers continue to rave about the astounding camera capabilities and unprecedented battery life and the groundbreaking suite of health and safety features. The iPhone 14 lineup pushes the limits of what users can do with a smartphone,” he added.

    During the quarter, Mac revenue came in at $7.7 billion, which was in line with what Apple had expected.

    During the quarter, iPad revenue grew 30 per cent to a total of $9.4 billion.

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    ( With inputs from www.siasat.com )

  • Apple sells 2 mn iPhones in India in holiday quarter, logs 18% growth

    Apple sells 2 mn iPhones in India in holiday quarter, logs 18% growth

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    New Delhi: Apple sold 2 million iPhones in India in the holiday quarter (Q4) of 2022, registering 18 per cent growth (quarter-on-quarter) for its flagship device, new data showed on Monday.

    The India market share of iPhones reached 5.5 per cent for 2022, an 11 per cent growth (year-on-year).

    For 2021, Apple iPhones had logged 48 per cent YoY growth with 4.4 per cent market share in the country.

    According to the latest CMR data, iPhone 14 series logged 59 per cent market share in Q4 2022, followed by iPhone 13 series at 32 per cent growth.

    Apple also sold 0.2 million iPads in India in Q4, and iPad Pro 2022 Series registered 30 per cent growth.

    Currently, Apple accounts for around 5 per cent of the overall smartphone market in the country.

    The iPhone manufacturer is now looking seriously at India and Vietnam to bolster its supply chain in the next 2-3 years.

    Apple aims to ship 40-45 per cent of iPhones from India compared to a single-digit percentage currently, according to Kuo.

    Every fourth iPhone will be made in India by 2025, according to JP Morgan.

    India accounted for 10-15 per cent of iPhones’ overall production capacity at the end of 2022.

    Apple became the first smartphone player in India to have exported $1 billion worth iPhones in the month of December. It currently manufactures iPhones 12, 13, 14 and 14 Plus in the country.

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    ( With inputs from www.siasat.com )

  • Microsoft logs slowest quarter growth in 6 years, PC sales nosedive

    Microsoft logs slowest quarter growth in 6 years, PC sales nosedive

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    New Delhi: Microsoft has recorded its slowest sales growth in more than six years in its December quarter of 2022, as it took a $1.2 billion hit after laying off 10,000 people amid poor PC sales globally.

    Revenue was $52.7 billion and increased 2 per cent while net income was $16.4 billion, decreased 12 per cent for the quarter that ended December 31.

    Revenue in the ‘More Personal Computing’ was $14.2 billion and decreased 19 per cent. While Windows OEM revenue decreased 39 per cent, Xbox content and services revenue decreased 12 per cent and devices revenue decreased 39 per cent.

    Microsoft Chairman and CEO Satya Nadella said the next major wave of computing is being born, as the Microsoft Cloud turns the world’s most advanced AI models into a new computing platform.

    “We are committed to helping our customers use our platforms and tools to do more with less today and innovate for the future in the new era of AI,” said Nadella.

    Microsoft has made a “multiyear, multibillion dollar” investment in ChatGPT developer OpenAI.

    Last week, the company said it will begin integrating ChatGPT into its Azure cloud services offerings.

    “We are focused on operational excellence as we continue to invest to drive growth. Microsoft Cloud revenue was $27.1 billion, up 22 per cent year-over-year as our commercial offerings continue to drive value for our customers,” said Amy Hood, executive vice president and chief financial officer of Microsoft.

    While LinkedIn revenue increased 10 per cent, Search and news advertising revenue excluding traffic acquisition costs increased 10 per cent in the quarter.

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    ( With inputs from www.siasat.com )