Month: January 2024

Key expectations from hospitals and healthcare space | Q3FY24 earnings..

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

In the healthcare space, hospitals are expected to report mid-teen growth driven by the average revenue per occupied bed (ARPOB), aided by an improved payor and case mix.

Occupancies, however, could be sluggish for hospitals due to festival season and children’s holidays. Now analysts expect one to two more quarters of growth for hospitals till the high base starts to probably impact growth.

Stock specific – Apollo Hospitals could report as much as over 50% year-on-year growth in profit led by lower losses in Apollo HealthCo. Operational losses are expected to reduce to as much as around ₹10 crore versus ₹38.7 crore according to some analysts for Apollo HealthCo.

The company saw minimal bed addition, which is likely to keep the hospital revenue growth restricted this quarter and the EBITDA growth for the hospital business to around 2-3%.

Medanta Global Health could see occupancies reduced by around 200 to 300 basis points (bps) quarter on quarter due to the festive season. ARPOBs could rise as much as 9% year-on-year. Analysts will be watching for commentary on increased competition in the Indore market for Medanta in particular.

Also Read | Cement Q3FY24 outlook: What experts anticipate on demand and pricing

For Max Health, the Street is expecting double-digit growth of around 14% YoY with stable average revenue per occupied bed sequentially. When it comes to diagnostic companies, one should expect revenue to be driven by volumes. However, one should watch for the festive season to impact the testing numbers.

Dr Lal Pathlabs is expected to report around a 15% growth led by a low base, Metropolis has indicated witnessing an early double-digit growth in terms of revenue for its core business of around 12% YoY.

Also Read | FMCG Q3FY24 outlook: Experts weigh in on likely outperformers amid challenges

Focus on key segments such as preventive testing should aid overall numbers. For example, Jaanch and Arogyam from Thyrocare and premium and specialised testing for Metropolis were the fastest-growing segments for the company in Q2.

For more, watch the accompanying video

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Fernando Varela joins FC Bengaluru FC as head coach, club keen to make a mark in I-League Qualifiers

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Two-time BDFA champions FC Bengaluru United believe they are “well placed as a team” as they look to make the climb to the I-League through the I-League 2 matches starting later this month. Spain’s Fernando A. Santiago Varela returns as the Head Coach for the Bengaluru-based team, as they look all set to mount a determined bid to qualify for the I-League.

Speaking at the pre-season press conference in Bengaluru, Gaurav Manchanda, Owner, FC Bengaluru United said, “We are excited to have Fernando back on board. With a new and exciting team that is the perfect mix of youth and experience, we believe his experience and knowledge are what we need to excel and succeed in our growth journey. We have learned from our mistakes in the past season and we are confident of a positive start in this direction under his able guidance. We are excited to take our learnings from last year in the new league format.

“We have a good squad of 20+ players right now right now and the intent we have is to qualify. I believe we are fully ready and we have the set-up for that. Our goal is to eventually make it to the ISL, but we are aware that we have to take it step by step.” Manchanda added.

Also Read: Super Cup teams return to LALIGA Matchday 21 action as Barcelona, Atletico Madrid face tricky challenges

This is Varela’s second stint as Head Coach of FC Bengaluru United after a short spell in 2023. Varela brings more than five years of experience within the Indian football system. “I am excited to be back with FC Bengaluru United,” commented Varela. “The team that we have picked has players in every position who can come together on the field and play as a unit. We have learned a lot from our last outing in the qualifiers and I believe we have the determination and drive to make it to the I-League.

“Some of the players have played under me in other clubs, so that familiarity helps. But everybody is familiar with my work ethic, they know how I push players during training and what I demand from them in terms of performance. They know how competitive I am. The vision of the club is equally important and that helps as well.”

The last time around when FC Bengaluru United and Varela played in the I League qualifiers, the club fell short by one point. But Varela was confident of making the step up this time around. “We have had a good pre-season preparation this time,” he said. “This gives me great confidence for the season ahead. The coaching staff has done an amazing job and I think this is our opportunity to qualify.”

Manchanda also shared his thoughts on the inspiration behind the FC Bengaluru United kit for the season – which draws from the landscape of Bengaluru. While the red home kit has a banyan tree represented in front, the white away kit features the flowering tabebuia whose petals come together in the shape of the map of Bangalore.

Talking about the new format and the progression pathway outlined by the AIFF, Manchanda praised the “change in the ecosystem”.

“There is clarity now which spurs more players to enter the ecosystem. It also helps clubs to outline their goals and establish a roadmap. There is no ambiguity and this allows international clubs to participate in Indian football, one way or the other.”

Manchanda also said it was “great to have” an increasing number of football clubs in Bengaluru. “It’s great for the players, business and the fans as well, with different philosophies they can align with.”

FC Bengaluru United play their opening match of the I-League 2 against Kenkre FC on 20th Jan at Bengaluru.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Legal Digest: Why a common description word can’t claim or violate trademark

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Case 1:  ‘Silk’ is a common description of paint hence no trademark violation

In Berger Paints India Limited v JSW Paints Private Limited, the Calcutta High court refused injunction against JSW’s Halo Silk trademark sought by Berger whose brand Berger Silk it contended was in the market for a very long time. 

To be sure, Berger Silk is a registered trademark but it can’t be dissected into Berger and Silk so as to deny usage of silk as described by a competitor.  Halo Silk didn’t cause confusion in the minds of lay buyers by being deceptively similar to Berger Silk. 

It is now a settled law that words occurring in dictionaries as well as in common usage are not eligible for trademark protection.  Silk, matt, gloss and satin are the most common adjectives used by paint manufacturers and no one can claim exclusivity to such descriptions, ruled the Court.

Case 2: Sexual perversions forced on a spouse amounts to cruelty and ground for divorce 

The Kerala High Court recently in X vs Y (true names hidden) matter held that sexual perversions practised with mutual consent is the private affair of the couple but the one forced upon by husband on wife or the other way round amounts to cruelty entitling the spouse to divorce on grounds of cruelty. 

Cruelty hitherto has been interpreted to include mental torture as well but this judgement must be hailed as breaking a new ground.  Oral sex may be kosher but if it is revolting to one of the marital partners, the other spouse cannot impose his will on her or vice versa. And if he or she does, the spouse is entitled to divorce on the grounds of cruelty.

Case 3: TCS on liquor bottles not mandated by law

In the Tamil Nadu State Marketing Corporation Ltd (TASMAC) vs Deputy Commissioner of Income Tax (DCIT) — the issue before the Madras High Court was whether TASMAC was derelict in not collecting tax at source as per section 206C of the Income tax Act on amount realised from the sale of empty bottles were concerned—the Madras High Court agreed with the appellant’s contention that it did not sell bottles but merely liquor.

Section 206C was introduced to prevent tax evasion by the hard-to-tax segment of any business. Liquor has always been perceived to belong to this genre which is why section 206C roped it in together with the presumptive taxation scheme obtaining for kit. 

TASMAC performed its duty by collecting 1% tax from the supply of liquor to the successful bidders in the auction but was hauled over coals for being derelict in not collecting tax on the sale of empty bottles.  The Madras High Court agreed with the appellant’s contention that it did not sell bottles but merely liquor.  It did not furthermore own the bottles.  It was thus absolved of the responsibility to collect tax at source on bottles even under the artificially elongated definition of scrap.  

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Australia crushes West Indies in seven sessions to go 1-0 up in Test series

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Josh Hazlewood returned with figures of 5/35 as Australia defeated West Indies by 10 wickets under three days to go 1-0 up in the two-match Test series on Friday. Batter Usman Khawaja was hit in his jaw by pacer Shamar Joseph and he is hence likely to miss the second game, but fellow teammate Marnus Labuschagne remained on the crease until the end to see the home team to an important victory.

A handy first-innings lead of 95 had put the hosts in charge of the low-scoring contest and their victory was merely a matter of time after Hazlewood blew away the West Indies top order on Thursday.

West Indies followed their first innings 188 with another below-par total of 120, losing their last four wickets for 47 runs on Friday morning, which left Australia needing 26 to go 1-0 up in the two-Test series.

What a week in Adelaide! Great vibes for a great win. Next stop, Brissy!

Tickets 🎟️: https://t.co/15SB5UgB2x pic.twitter.com/UHXE8iv3bI

— Cricket Australia (@CricketAus) January 19, 2024

The home side knocked off the target in 6.4 overs to triumph inside three days and cement their position at the top of the World Test Championship (WTC) standings. West Indies have not won a test Down Under since 1997 and few expected that winless streak to end after they arrived with a weakened squad.

The Caribbean side fielded three debutants after their best all-rounders, Jason Holder and Kyle Mayers, skipped the series opting to play in lucrative T20 leagues instead. Australia had no such concerns though and hometown hero Travis Head once again proved his worth in the middle order by smashing the only century of the match that made all the difference.

Also Read: Usman Khawaja unlikely for second Test vs West Indies due to jaw injury

Thoroughly outplayed, West Indies may prefer to look at the silver lining having unearthed a future match-winner in Shamar Joseph, who dazzled in his test debut. The 24-year-old fast bowler from Guyana smashed 36 at number 11, their second highest individual score in the first innings, and followed it with a five-wicket haul in his maiden test. The second and final Test in Brisbane, a day-night affair, begins on Thursday.

(With Reuters inputs)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Paytm Q3 results: Revenue rises 38%, net loss narrows to ₹220 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Paytm reported a 38% year-on-year (YoY) increase in revenue for the third quarter of the financial year 2024 to ₹2,850 crore on Friday, January 19. The company — which has not posted a net profit since it went public in November 2021 — said its consolidated net loss narrowed to ₹220 crore from ₹392 crore a year ago.

The company’s EBITDA or earnings before interest, taxes, depreciation, and amortisation before employee stock option (ESOP) grew to ₹219 crore, marking an uplift of ₹188 crore YoY.

Paytm’s profit after tax (PAT) experienced an increase by ₹170 crore YoY to reach ₹222 crore in Q3. The payments business segment recorded 45% YoY growth in revenue, soaring to ₹1,730 crore in Q3FY24.

Paytm’s financial services and other revenue climbed by 36% YoY, reaching ₹607 crore in Q3. On the other hand, the marketing services revenue demonstrated 22% YoY growth, totalling ₹514 crore in Q3.

The net payment margin witnessed a growth of 63% YoY to ₹748 crore in Q3.

Paytm’s contribution profit experienced 45% YoY growth, reaching ₹1,520 crore in Q3. The number of Paytm merchants paying a subscription for payment devices surged to 1.06 crore, marking a 49 lakh YoY increase.

The total loan disbursal value recorded a 56% YoY surge, reaching ₹15,535 crore in Q3FY24.

Paytm’s Average Monthly Transacting Users witnessed an 18% YoY increase, reaching 10 crore in Q3. The gross merchandise value experienced a 47% YoY surge, reaching ₹5.10 lakh crore in Q3.

The cash balance improved to ₹8,901 crore in the third quarter of FY24, up from ₹8,754 crore in Q2FY24.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Seasoned coach trio including Mickey Arthur quit NCA roles in Pakistan

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The Pakistan Cricket Board (PCB) announced that the trio of Mickey Arthur, Grant Bradburn, and Andrew Puttick have resigned from their respective roles in the country’s National Cricket Academy (NCA) in Lahore.

Arthur was appointed the director of men’s cricket in April last year, while Bradburn was made the head coach and Puttick the batting coach.

Pakistan’s failure to make the knockout stage of the ODI World Cup in India in November prompted the board to remove them from the national team coaching staff and put them in charge of the NCA.

Arthur, Bradburn and Puttick resign from their respective positions

Details here ⤵️ https://t.co/fA3HFSvICH

— PCB Media (@TheRealPCBMedia) January 18, 2024

✍️ Mickey Arthur
✍️ Grant Bradburn
✍️ Andrew Puttick

The Pakistan coaching trio have resigned from their respective positions 🇵🇰 pic.twitter.com/RUknWirMTy

— Sport360° (@Sport360) January 18, 2024

Former captain Mohammad Hafeez served both as team director and head coach during a recent tour of Australia, where Pakistan lost all three Tests.

“All three individuals informed the Pakistan Cricket Board of their decision to leave their respective jobs by the end of January 2024,” the board said in a statement on Thursday.

Also Read: Usman Khawaja unlikely for second Test vs West Indies due to jaw injury

“The decision was taken amicably between all the stakeholders.”

Arthur remains Derbyshire’s head coach, a role he maintained while doing Pakistan duties. Bradburn has taken over as Glamorgan’s head coach, and Puttick has joined Afghanistan’s coaching staff.

(With Reuters inputs) 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Reliance Jio Q3 result: Profit rises 3% to ₹5,208 crore, revenue at ₹25,368 crore in Dec quarter

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Reliance Industries telecom division Reliance Jio Infocomm saw a sequential profit growth of 3% at ₹5,208 crore for the October to December 2023 quarter, according to the company’s financial results released on January 19. This is slightly higher than the CNBC-TV18 poll profit projection of ₹5,150 crore. The firm registered a profit of ₹5,058 crore in the July to September 2023 quarter.

The telecom company’s revenue rose to ₹25,368 crore for the third quarter of the financial year, as compared to ₹24,750 crore in the preceding quarter. The revenue is largely in line with the poll estimate of ₹25,360 crore.

Jio’s operational performance has improved as its earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose to ₹13,277 crore for the quarter under review from ₹12,953 crore in the last quarter. The EBITDA has come in a little lower than the poll forecast of ₹ 13,450 crore.

The margin, meanwhile, was flat at 52.3%.

Jio’s subscribers’ data is yet to be released and it must be noted that analysts polled by CNBC-TV18 had suggested that the telco’s revenue growth would be driven by a 10 million subscriber addition and a moderate increase in average revenue per user (ARPU).

In the July to September quarter, the company had a total subscriber base of 459.7 million; the company had added 11.2 million subscribers (net), as against 9.2 million in the first quarter of the financial year. The ARPU had come in at ₹181.70 in the September quarter, up from ₹180.50 reported in the April-June quarter.

The data released by the Telecom Regulatory Authority of India (TRAI) for October 2023 showed Jio added 3.1 million subscribers during the month. Following this, the CNBC-TV18 poll of analysts expects the firm will have expanded its subscriber base by 10 million during the third quarter of 2023-24.

Among the other factors, analysts expect the Street to track 5G rollout and adoption. As of the second quarter, Jio’s 5G data traffic accounted for more than 15% of overall data traffic. The rollout of Jio AirFibre and the hike in 4G prepaid tariff will also be key to watch, analysts said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

IndiaMART CEO Dinesh Agarwal says customer addition has bottomed out but that can be fixed

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

In the last financial year (FY22-23), Noida-headquartered e-commerce company IndiaMART InterMESH Ltd added about 32,000 or 33,000 customers, which was the highest ever in its history, said Dinesh Agarwal, Founder and CEO of IndiaMART.

“Our anticipation was at the pre-COVID level, but churns are a little bit higher than what was expected. And that is resulting into lower customer addition for the past three quarters. Mostly it should be bottomed out at 2,000 customers per quarter. And as I said earlier\ also, it will take us two to three quarters to find reasons and fix because these are small things,” Agarwal said.

The IndiaMART CEO further said the good part is that gold and platinum customers continue to pay the company higher revenue, and they continue to upgrade. Their revenue contribution is close to 75%. And they contribute about 50% of the total customer base.

Speaking about a growth in collections, Agarwal said after many quarters of upwards of 20-25% collection growth, this is the first quarter that the company has witnessed the 17% rate — I would still say that it’s a one off.

“As we have always maintained that we want to remain at 20%-plus growth rate company more towards 25%. Since the customer growth has muted there could be some reasons for that. Also, October, November, December have more holiday days. That’s how it should also be read. We would like to maintain that at least for now. We would be targeting 20% upwards of the collection growth,” he added.

IndiaMART on Thursday (January 16) reported lower paying subscribers in the third quarter compared to the previous quarter. Net addition of paying subscribers in the December quarter stood at 1,826 compared to 2,064 during the September quarter, IndiaMart said in a filing.

For the December quarter, IndiaMART reported a net profit of ₹82 crore, down from ₹112.8 crore in the year-ago period, due to significant decline in other income. On a sequential basis, the net profit has risen 18.6% from ₹69 crore in the previous September quarter.

The Noida-headquartered company’s revenue from operations jumped 21.5% to ₹305 crore for the reporting period. It was ₹251 crore in the corresponding period of last year.

Operating profit, known as EBITDA, rose 22.4% to ₹85.9 crore, while margins were flat at 28% on-year for the December quarter.

The company also recorded a significant decline in other income at ₹41.7 crore from ₹102 crore in the same quarter a year ago.

Shares of IndiaMART InterMESH Ltd closed 5.88% higher at ₹2,635.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | ICICI Bank, Bharti, Infosys lead Nifty rebound

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The Indian stock market staged a robust comeback on Friday (January 19), breaking from a three-day losing streak, thanks to strong support from key players such as ICICI Bank, Bharti Airtel, and Infosys. The Sensex surged by an impressive 496 points to close at 71,683, while the Nifty gained 160 points, reaching 21,622.

However, the performance of the banking sector remained a cause for concern, with the Nifty Bank closing 550 points off its highs. ICICI Bank, in anticipation of its Q3 earnings, closed with a gain of over 1%, contributing to the market’s positive sentiment. Hindustan Unilever (HUL) also saw an upward trend during the session.

On the flip side, IndusInd Bank experienced a decline of over 3%, despite reporting earnings largely in line with expectations. HDFC Bank struggled to maintain its opening gains, ending 3% off its highs by the close of the session.

UltraTech reported in-line Q2 results, with the stock ending the session at the day’s high. However, Atul couldn’t sustain gains observed post-earnings, closing 3% lower than its peak.

Positive brokerage notes fueled Aarti Industries, pushing the stock to a record high and marking an 11% increase. Additionally, REC and PFC witnessed an uptick following a brokerage upgrade, gaining up to 7%.

IRCTC experienced healthy volume-driven gains after an update in its app, closing the day with a 6% increase. Oracle Financial Services extended its winning streak, rising another 5% on Friday. Market breadth favoured advances, with an advance-decline ratio of 2:1.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow