Corrigendum To Audited Financial Results For The Quarter And Financial Year Ended March 31 2025.
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Time of India
13 hours ago
- Time of India
Only 20-25% of India's 850 mn internet users shop online, shows untapped potential: McKinsey Report
India's e-commerce sector is set for significant growth in the coming years, according to a report by McKinsey & Company. The report noted that only 20-25 per cent of India's 850 million internet users shop online. This is much lower as compared with mature markets like the United States and China, where over 85 per cent of internet users make purchases online. The report said, "Out of the country's 850 million internet users, only about 20 to 25 per cent shop online". The report also highlighted that India has seen a strong rise in e-commerce activity over the past few years. The country is not just catching up as a fast adopter of online shopping but is also emerging as an innovator in the field. This is especially visible in the rapid growth of quick commerce platforms that deliver goods in a very short time. However, e-commerce still accounts for only 7 to 9 per cent of India's total retail sales as of fiscal year 2023. This share is expected to more than double to between 15 and 17 per cent by 2030, showing the huge potential for expansion. New business models are changing the shape of the e-commerce industry in India. Quick commerce and social commerce together make up more than 15 per cent of the e-commerce market today. Their share is expected to exceed 25 per cent by 2030. E-commerce companies are also finding new ways to serve consumers. They are expanding into new categories such as instant bookings for domestic services, professional help, and even medical aid. The next wave of growth in Indian e-commerce is likely to come from two main factors. One is the increasing entry into new segments like B2B (business-to-business) commerce and building materials. The other is the rising demand from tier-two and tier-three cities. These cities are seeing faster income growth than metro and tier-one cities. Monthly incomes in tier-two cities grew by 18 per cent between 2023 and 2024, which is higher than the growth seen in bigger cities. The report suggested that e-commerce in India will go beyond simply disrupting traditional retail. It is expected to reshape the entire retail system, including areas like last-mile delivery and logistics.
Time of India
16 hours ago
- Time of India
Lodha Developers' net profit grows 41.86% in Q1 FY26
NEW DELHI: Lodha Developers (formerly known as Macrotech Developers ) a has reported a growth of 41.86 per cent in its net consolidated profit during the quarter ended June 30, 2025. Its profit after tax stood at ₹675.10 crore in Q1 FY26 as against ₹475.90 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at ₹3,624.70 crore in Q1 FY26, a growth of 24.21 per cent from ₹2,918.30 crore it recorded in the similar quarter last year. Abhishek Lodha , MD & CEO of the company said, "It is heartening to note that Q1 FY26 has turned out to be our best ever first quarter pre-sales performance at ₹44.5 billion, clocking a 10% year-on-year growth. We are pleased to share that we have achieved more than 90% of our FY26 business development guidance in the first quarter itself. We added five projects at marquee locations in MMR, Pune and Bengaluru with ₹227 billion of GDV potential. This takes the total GDV addition since our IPO to more than ₹1 trillion spread across 48 projects." As on June 30, 2025, its net worth stood at ₹20,513.50 crore, current liability ratio was 0.93, total debts to total assets was 0.15, debt-equity ratio was 0.38, operating margin was 34.39% and net profit margin was 18.62%. "Despite the significant investments in business development in this quarter, our net debt stands at ₹50.8 billion (0.24x Net Debt/ Equity) - well below our ceiling of 0.5x Net Debt/Equity. Our exit cost of debt for Q1 FY26 stands at 8.3% (down 40 bps for the quarter)- among the lowest in the industry," said Lodha. During the quarter ended on 30-June-2025, the Company has alloted 4,74,986 equity shares having a face value of ₹10 each upon exercise of options granted under the Lodha Developers - Employee Stock Option Schemes. The company reported pre-sales of ₹44.5 billion, up over 10% year-on-year while collections stood at ₹28.8 billion, up over 7% year-on-year during the said quarter.
Mint
a day ago
- Mint
Poonawalla Fincorp share price rises 6% despite sell-off in Indian stock market; here's why
Poonawalla Fincorp share price jumped over 6% on Monday led by heavy buying momentum, despite broader weakness in the Indian stock market. Poonawalla Fincorp shares rallied as much as 6.59% to ₹ 440.75 apiece on the BSE. Around 40 lakh equity shares of Poonawalla Fincorp changed hands on stock exchanges, significantly higher than their one week average trading volumes of 19 lakh shares. The rally in Poonawalla Fincorp share price comes after the financial services company approved raising ₹ 1,500 crore from its promoter and aims for over 40% growth in its asset book, led by expansion in products portfolio including gold loans. The board of directors of Poonawalla Fincorp, on July 25, approved raising of funds up to ₹ 1,500 crore from promoter Adar Poonawalla's Rising Sun Holdings by issuing and allotting of 3.31 crore fully paid-up equity shares at an issue price of ₹ 452.51 per equity share by way of preferential allotment and private placement basis. The equity infusion has increased Poonawalla Fincorp's net worth to ₹ 9,700 crore. 'The said capital raise is a strategic move not only strengthens the company's financial position but also reinforces the promoter's confidence in the Company's long-term potential. The Company is well positioned to continue its growth trajectory, deliver value to its stakeholders and achieve its ambitious objectives in the competitive NBFC landscape,' Additionally, Poonawalla Fincorp is targeting above 40% growth in its asset book on the back of expansion in products portfolio including gold loans. 'We have given Asset Under Management growth guidance of 35-40% this year. We hope to exceed our target as new product lines are gaining good traction,' Poonawalla Fincorp MD and CEO Arvind Kapil told PTI. The non-deposit-taking NBFC, Poonawalla Fincorp, reported a net profit of ₹ 63 crore in the first quarter of FY26, a steep fall of 78.5% from ₹ 292 crore in the year-ago period, impacted by one-time expenses and prior provisioning. However, profit remained flat on a sequential basis. The company's net interest income (NII) in Q1FY26 increased to ₹ 639 crore from ₹ 576 crore, year-on-year (YoY). Poonawalla Fincorp registered a 53% robust growth on an annual basis in AUM at ₹ 41,273 crore at the end of first quarter ended June 30, 2025. In Q1FY26, the company had taken a one-time accelerated provision of ₹ 666 crore on the erstwhile STPL book, which also improved its provision coverage ratio (PCR) to 53.93%, up from 52.53% a year earlier. 'With credit cost significantly reducing on an overall basis by 53 bps QoQ, a risk-calibrated AUM increase of 15.8% QoQ, and ~Rs.1,500 cr capital infusion on preferential basis by the promoter, strengthens the company and supports its growth plans. Poonawalla Fincorp is well-poised for building a risk-first, sustainable, and profitable model,' said Arvind Kapil, Managing Director and CEO, Poonawalla Fincorp. Poonawalla Fincorp share price has fallen 3% in one month, but the NBFC stock has rallied 14% in three months and 42% in six months. The stock is up 40% on a year-to-date (YTD) basis, while it has gained 16% in one year. Poonawalla Fincorp share price has delivered multibagger returns of 1607% over the past five years. At 10:35 AM, Poonawalla Fincorp share price was trading 5.94% higher at ₹ 438.05 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
