India

Blinkit’s losses up over 8% to reach 1,078 cr in FY23, revenue surges 3X: Report

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Delivery and related charges were behind 29.2 per cent of the total expenses, reports Entrackr.

Published Date – 05:00 PM, Thu – 19 October 23


Blinkit’s losses up over 8% to reach 1,078 cr in FY23, revenue surges 3X: Report

Photo: IANS

New Delhi: Zomato-owned quick delivery platform Blinkit saw its losses increase 8.2 per cent to reach Rs 1,078.9 crore in FY23 from Rs 996.7 crore in FY22, the media reported on Thursday.

Delivery and related charges were behind 29.2 per cent of the total expenses, reports Entrackr.

“This cost elevated 2.4X to Rs 565.8 crore in FY23 from Rs 235.9 crore in FY22. Its employee, advertising, rental, and outsourcing manpower costs drove its overall expenditure to Rs 1,939 crore in FY23,” the report said. According to the statement filed with the Registrar of Companies (RoC), Blinkit registered a three-fold jump in its revenue during FY2023. Its revenue from operations surged to Rs 724.2 crore in FY23 from Rs 236.1 crore in FY22.

“Blinkit makes money from the marketplace commissions which accounted for 55.9 per cent of the total operating collection. This income grew 2.75X to Rs 404.5 crore in the last fiscal year from Rs 146.8 crore in FY22,” the report noted.

Blinkit was acquired by Zomato for $568 million in an all-stock deal. The online food delivery platform, set to reveal its Q2 FY24 results soon, reported a net profit of Rs 2 crore in the first quarter of the current financial year and revenues of Rs 2,416 crore (year-over-year), up 70.9 per cent from the same period last year. In the same quarter last year, Zomato posted a net loss of Rs 186 crore and revenues of Rs 1,414 crore.

As reported in the filing to the exchanges, the quick commerce (Blinkit) business turned contributory positive for the first time ever in June 2023. According to Q1FY24 figures, 1.75 crore transacting customers were registered, compared with 1.67 crore a year earlier.

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Documentary Maker, 30, Killed In Collision Between 2 Bikes In Delhi: Cops

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Documentary Maker, 30, Killed In Collision Between 2 Bikes In Delhi: Cops

Police said an FIR was registered against the offending bike rider (Representational)

New Delhi:

A 30-year-old documentary-maker was killed in a collision between two motorcycles near south Delhi’s Panchsheel Enclave, police said on Wednesday.

The incident occurred on Saturday at about 9.30 pm, they said, adding that Piyush Pal was rushed to a nearby hospital where he died during treatment on Tuesday.

A call regarding the incident was received at Hauz Khas police station at 10.11 pm. When police reached the spot, the two motorcycle riders — Pal and Bunty (26) — were found to be shifted to different hospitals, a senior police officer said.

The accident was captured on a nearby CCTV camera in which Pal’s motorcycle is seen hitting a bike being driven by Bunty, who works as a driver in Gurugram.

“On the statement of Bunty and analysis of CCTV footage, an FIR was registered against the offending bike rider. But on Tuesday, around 6 pm, we got information about Pal’s death,” the officer said.

Meanwhile, Pal’s friend Sunny Bose alleged that Bunty’s motorcycle hit the victim’s bike from the rear.

“This is totally strange to know that the police registered a case against Piyush. We lost our friend who just celebrated his birthday two months ago on September 15,” Mr Bose told news agency PTI.

“He was wearing an expensive helmet. He was the one who was lying in a pool of blood for more than 20 minutes. No one had come forward to help him. People gathered there just to click pictures and record videos, it was when a bike taxi aggregator along with three other men picked him up and rushed him to a nearby hospital,” he said.

Piyush was probably returning home from his swimming classes. His bike speed was normal when he was about to make a left turn, another bike hit him from the rear, Mr Bose alleged.

“The entire incident took place at about 9.30 pm. And people took him to the hospital after half an hour. His life could have been saved, if people helped him out on time,” he said.

“Pal’s mobile phone was ringing till 10 pm, but later it was showing off. A Go-Pro camera which he used to record video for his work purpose is also missing. We are not looking for any compensation from anyone, we only want justice,” Bose said.

“Sunny was survived by his father, mother and a sister. His father has a shop at Chittaranjan Park market. His dream was to make a documentary on the life of crew members of Bollywood how they survive in Mumbai and their daily routine,” he said.

The senior police officer said another FIR has been registered under sections 279 (rash driving) and 337 (causing hurt by an act which endangers human life, etc.) of the IPC against Bunty.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Jio Glass: This New Technology Offers Mixed Reality (Physical & Digital) | Reliance Jio

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Jio Glass is all about Mixed Reality. It’s not just augmented reality or virtual reality; it’s a blend of both, where the real and digital worlds interact.

Published Date – 02:49 PM, Thu – 2 November 23


Jio Glass: This New Technology Offers Mixed Reality (Physical & Digital) | Reliance Jio


Hyderabad: Jio Glass is all about Mixed Reality. It’s not just augmented reality or virtual reality; it’s a blend of both, where the real and digital worlds interact. It combines physical reality and digital content, allowing you to interact with real-world and virtual objects. Unlike virtual reality, which immerses you entirely in a digital world, or augmented reality, which overlays digital content on your surroundings, Mixed Reality seamlessly integrates both worlds.

Watch:

India

Finance Minister bats for arbitration centre for maritime sector

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Finance Minister Nirmala Sitharaman on Thursday batted for setting up an international arbitration centre for the maritime sector.

Published Date – 05:00 PM, Thu – 19 October 23


Finance Minister bats for arbitration centre for maritime sector



New Delhi: Finance Minister Nirmala Sitharaman on Thursday batted for setting up an international arbitration centre for the maritime sector.

This, she said, will provide protection from international sanctions and pressures.

It will also ensure greater flexibility in the country’s shipping operations, she said, while addressing the global maritime summit in Mumbai.

She noted that while there are many Indians working in international arbitration centres in London or Singapore or Dubai, they are all just working in subordinate roles there.

This scenario, Sitharaman said, can be changed. To achieve this, the country’s arbitration laws need to be at par with global standards, she added, while underlining the need for an arbitration centre.

On the need to improve financing to the maritime sector, she admitted that despite having a strong balance sheet, banks are not very keen on funding the sector, owing to higher risks involved in the maritime sector.

Sitharaman said she is in talks with public sector banks to have a more positive approach to this sector. I also want private sector lenders to look at shipping and maritime sectors more proactively.

Meanwhile, she said that the turnaround time for Indian ports is far better than the ports of other countries.

“World Bank’s logistics performance index report of 2023 says that turnaround time of Indian ports is now 0.9 days which is better than Singapore which is 1 day, UAE which is 1.1 days, Germany 1.3 days, USA 1.5 days, Australia 1.7 days, Russia 1.8 days and South Africa 2.8 days. India’s overall rank in World Bank’s logistics performance Index has also increased from 54 in 2014 to 38 in 2023,” Sitharaman said.

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141 Cases Registered, 168 Arrested For Violence During Maratha Quota Protests

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141 Cases Registered, 168 Arrested For Violence During Maratha Quota Protests

Maharashtra’s top cop said the police have clear instructions to take strict action.

Mumbai:

Maharashtra Police has so far registered 141 cases in connection with the violence during the Maratha quota agitation and arrested 168 persons, state Director General of Police Rajnish Seth said on Wednesday. 

Speaking about the violence in Beed district, he said 20 cases have been registered including seven offences under section 307 (Attempt to murder) of the Indian Penal Code between October 24 and 31.

A Rapid Action Force (RAF) company has been deployed in Beed district to avoid any untoward incident and internet services in Chhatrapati Sambhaji Nagar (rural), Jalna, and Beed have been suspended, Mr Seth told media persons at the state police headquarters in south Mumbai.

Public properties worth Rs 12 crore were damaged across the state during demonstrations (over eight days), the DGP said.

“Notices have been served to 146 accused persons under section 41 in the CrPC,” he said.

Notably, houses of Nationalist Congress Party MLAs Prakash Solanke and Sandeep Kshirsagar were torched by protesters in Beed district over the last two days. The office of a legislator from the ruling BJP was vandalised by protesters in Chhatrapati Sambhajinagar district, police had said.

The first floor of the municipal council building in Majalgaon town in Beed district was set on fire and stones were hurled at it by a group of quota agitators on Monday.

Mr Seth said prohibitory orders have been imposed in Beed district under section 144 of the CrPC (Criminal Procedure Code).

Besides the local police, 17 companies of the State Reserve Police Force (SRPF) have been deployed at sensitive locations across Maharashtra, Mr Seth said, adding that 7,000 home guards are also helping the police in maintaining law and order.

“The miscreants involved in damaging public property and arson and those who break the law will be dealt with strictly. We have clear instructions to take strict action. Police will cooperate in peaceful agitations. We have deployed additional manpower wherever required in various districts,” the state’s top police officer added.

Maharashtra Deputy Chief Minister Devendra Fadnavis, who handles the Home portfolio, on Tuesday said agitators who tried to burn down a house in Beed district with family members inside will face attempt to murder charges.

Maratha community members have launched a fresh round of agitation seeking a quota in government jobs and educational institutes. Quota activist Manoj Jarange has been on an indefinite fast at a village in Jalna district since October 25 in support of the reservation demand.

Earlier on Wednesday, leaders at an all-party meeting on Maratha quota chaired by Chief Minister Eknath Shinde passed a resolution asking activist Manoj Jarange to call off his indefinite fast. 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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New case registered against Chandrababu Naidu

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Andhra Pradesh Mining Development Corporation lodged a complaint against Peetala Sujata -Accused number 1, Chandrababu A 2, former TDP MLA Chintamaneni Prabhakar A 3 and former TDP minister Devineni Uma A 4.

Published Date – 07:16 PM, Thu – 2 November 23


New case registered against Chandrababu Naidu

File photo

Amaravati: One more case has been registered against the former Chief Minister and Telugu Desam Party president Nara Chandrababu Naidu, this time for resorting to irregularities in sand deals.

The case was registered on Thursday after Andhra Pradesh Mining Development Corporation lodged a complaint against Peetala Sujata -Accused number 1, Chandrababu A 2, former TDP MLA Chintamaneni Prabhakar A 3 and former TDP minister Devineni Uma A 4 for causing severe monetary loss to the government.

Large scale irregularities in sand mining were reported during the TDP government and it was said that Chandrababu did not bother even when irregularities took place right under his nose. With the sand mafia active, the National Green Tribunal also imposed a Rs.100 crore fine on his government then.

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Congress "Synonymous To Every Problem In India": Yogi Adityanath

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Congress 'Synonymous To Every Problem In India': Yogi Adityanath

Yogi Adityanath said that the BJP’s “double engine government can solve all problems”. (File)

Jaipur:

Uttar Pradesh Chief Minister Yogi Adityanath on Wednesday lashed out at the Congress and said the party has become “synonymous to every problem in India”.

Addressing a meeting held in Tijara on the occasion of the filing of nomination by BJP candidate and MP Baba Balaknath, Yogi Adityanath also hit out at the Congress government in Rajasthan on the law and order in the state.

“Congress, as per its nature, is leaving no stone unturned in tarnishing the glorious tradition of Rajasthan. The party has become the name of the problem within the country. Congress has become synonyms to every problem in India,” Yogi Adityanath said.

The Uttar Pradesh Chief Minister said that the BJP’s “double engine government can solve all problems”.

“All the problems which India is solving one by one today under the leadership of Prime Minister Narendra Modi are the contribution of the Congress,” he added.

“Wherever there is BJP’s double engine government, there is security, prosperity, development and work is being done to provide the benefits of schemes to every section of the society without discrimination,” he added.

Accusing his Rajasthan counterpart Ashok Gehlot of playing politics of appeasement, Yogi Adityanath said, “How long will this game of appeasement continue? On one hand, you glorify cow smugglers and on the other, you run bulldozers on the ashrams of revered saints.” “How can this be accepted? The saints are murdered here, cattle smuggling and slaughter take place, mothers and daughters are not safe, and any goon comes and captures the businessmen’s property,” he added.

Baba Balaknath filed his nomination papers from the Tijara assembly constituency on Wednesday.

The Congress has fielded Imran Khan for this seat.

“I have been told that the Congress candidate from Tijara uses big metaphors about himself. Only Bajrangbali’s mace can cure the Talibani mindset. Are you seeing how Israel is currently working to crush the Taliban mentality in Gaza,” Yogi Adityanath said.

The 200-member Rajasthan Assembly will go to polls on November 25 and the counting of votes will be taken up on December 3.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

India

Airtel in partnership with Ericsson tests India’s 1st RedCap technology

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Carried out in collaboration with chip-maker Qualcomm using its 5G RedCap test module, the testing on the 5G TDD network represents the first implementation and validation of RedCap in India.

Published Date – 05:05 PM, Thu – 19 October 23


Airtel in partnership with Ericsson tests India’s 1st RedCap technology



New Delhi: Bharti Airtel in partnership with Ericsson on Thursday successfully tested Ericsson’s pre-commercial Reduced Capability (RedCap) software on the Airtel 5G network.

Carried out in collaboration with chip-maker Qualcomm using its 5G RedCap test module, the testing on the 5G TDD network represents the first implementation and validation of RedCap in India.

Ericsson RedCap is a new radio access network (RAN) software solution that creates new 5G use cases and enables more 5G connections from devices such as smartwatches, other wearables, industrial sensors and AR/VR devices, the company said.

“The successful testing of RedCap technology on our network will enable futuristic IoT broadband adoption for devices, including wearables and industrial sensors in a way that is both cost and energy-efficient,” Randeep Sekhon, CTO, Bharti Airtel, said in a statement.

According to the company, RedCap is the next evolution of 5G technology to cater for the use cases that are not yet best served by current new radio (NR) specifications. Compared to LTE device category 4, RedCap offers similar data rates with improved latency, device energy efficiency and spectrum efficiency.

“With our customers like Airtel continuously investing in network capabilities to seize the opportunities offered by 5G, the commercialisation of RedCap capabilities will enable them to grow their consumer business and enable new industry applications, all while improving network performance and energy efficiency,” said Sandeep Hingorani, Head of Network Solutions for Customer Unit Bharti at Ericsson states.

Ericsson RedCap will open up a new world of possibilities for communications service providers, allowing for the introduction of services beyond enhanced mobile broadband (eMBB) on 5G standalone architecture, broadening the ecosystem and offering new monetisation opportunities in both the consumer and industrial spaces.

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Every rain drop should be utilised to fight drought: Jagan

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Andhra Pradesh faced the same issues like other states with respect to water resources, and there was acute shortage of water for irrigation, he said, and felt that micro irrigation could provide the answer.

Published Date – 07:58 PM, Thu – 2 November 23


Every rain drop should be utilised to fight drought: Jagan


Visakhapatnam: Chief Minister YS Jaganmohan Reddy has observed that every drop of rain during monsoon should be utilised properly in order to overcome drought.

Addressing the three-day International Congress on Irrigation and Drainage (ICID) which began here on Thursday, he called for the right plans to divert water from areas with excess rainfall to the lands in drought-prone regions and find acceptable solutions to water issues. Andhra Pradesh faced the same issues like other states with respect to water resources, and there was acute shortage of water for irrigation, he said, and felt that micro irrigation could provide the answer.

Union Minister for Water Resources Gajendra Singh Shekhawat called for best agricultural practices and optimum use of water resources. At present, India had 250 billion cubic metres of water reserves, he disclosed and urged the conference to come out with suggestions for recycling of water.

Delegates from 90 countries are participating in the congress.

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Samajwadi Party Hints At Contesting On 65 Of 80 UP Lok Sabha Seats In 2024

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Samajwadi Party Hints At Contesting On 65 Of 80 UP Lok Sabha Seats In 2024

This election will decide the future of coming generations, said Akhilesh Yadav. (FILE)

Lucknow:

The Samajwadi Party on Wednesday indicated that it will contest on 65 of the 80 Lok Sabha seats in Uttar Pradesh in 2024.

Samajwadi Party president Akhilesh Yadav, who attended a meeting of the party’s state executive committee in Lucknow, called upon party workers to make full preparations to remove the BJP from power in the 2024 Lok Sabha elections.

“This election will decide the future of coming generations. It will be the last election to save democracy and the Constitution. Party workers should make full preparations to remove the BJP from power in the 2024 Lok Sabha elections,” Mr Yadav was quoted as having told the state executive meet at the party headquarters.

The Samajwadi Party, which is the main constituent of the Indian National Developmental Inclusive Alliance (INDIA) of opposition parties, also indicated that it will contest on 65 seats leaving the remaining to its allies.

SP spokesman Rajendra Chaudhary, while confirming that the party president has given indications of the party contesting on 65 seats, said that he has asked for making preparations for all the 80 seats.

“Yadav has asked party workers to remain vigilant at the booth level to prevent the BJP from coming to power,” Mr Chaudhary told PTI.

Asked whether the Samajwadi Party will be a part of the INDIA bloc in the parliamentary elections amid the strained relations between it and the Congress over seat sharing for the Madhya Pradesh assembly polls, Mr Chaudhary said, “There is an alliance for the Lok Sabha elections, that is certain.” According to party spokesman Faqrul Hasan Chand, Yadav told the party cadre that the SP is the biggest party in the state and had got 35 per cent vote share in the recent assembly elections and is also a part of the INDIA alliance. Therefore, the SP will contest on 65 of the 80 seats while leaving the rest for its allies.

During the last Lok Sabha elections, the SP, which had entered into an alliance with the BSP, also left three seats for the Rashtriya Lok Dal (RLD). The RLD had contested the recent assembly elections with the SP and is still a part of the SP-led alliance.

Just before the 2019 Lok Sabha elections, the SP and the BSP had cobbled together an alliance in which the BSP contested 38 seats and the SP 37.

The alliance had left two seats for the Congress — Rae Bareli and Amethi — and did not field their candidates there.

In his address, Mr Yadav cautioned the BJP government will try to influence the elections by misusing the administration.

Stressing that his party will expose the anti-people policies of the BJP, he said the Samajwadi Party is not afraid of BJP’s conspiracies and malicious actions.

“People are looking at the Samajwadi Party as an alternative. BJP is implicating Samajwadi Party workers in false cases. The public is watching everything, they will remove BJP from power in 2024,” he said.

The Samajwadi Party has been fighting for social justice for a long time and the conduct of a caste census is very important to take this fight forward, he said.

Only through this census will everyone get their rights and respect, he said, adding that the BJP was against holding a caste census.

The release said that in the state executive meeting of Samajwadi Party Uttar Pradesh, the political situation of the state, party organization and election strategy were discussed.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)